This 5,700 sqm unbuilt plot is located in one of the main corridors of the City. Its uniqueness is due to the presence of geothermal heat pumped from the ground on-site. The City of Reykjavik is open to various types of projects and expects bidders will propose creative and emblematic projects to best take advantage of the geothermal heat on site.
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The geothermal heat in the area is a great inspiration for future programming, such as a geothermal activity park or museum, urban farming, vertical farming etc. Greenhouses, winter gardens and health related activities would also be well suited
Reykjavík Energy (owned by the City of Reykjavík). The City is finalizing a purchase from Reykjavík Energy in order to prepare the development of the site.
Approximately 5700 sq. m.
Type of transfer intended
Note that Land lease agreements in Reykjavík are for 50 years. In general, all land lease agreements are renewed after the duration of 50 years. If they are not renewed, there has to be a great need for changes in land use, for example, from industrial to residential. In such cases the owner is reimbursed for the buildings on the land according to a valuation of an independent real estate company.
If you have a question or would like more details on the Reinventing Cities competition, please use the form below. You will receive a response via email.