Reykjavík, Iceland

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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.

The uniqueness of the 5700 sq. m. site of Lágmúli is the geothermal heat pumped from the ground on-site.

This site is an emblematic landmark located in one of the main corridor of Reykjavík, and an essential corner of the city with a mixed neighbourhood of business, retail and hotels. 

The new City Line will also run along this location and transform the cityscape in the area, creating a more urban, sustainable and liveable place. 

The site enjoys an ideal location with good connections to the sports facilities in Laugardalur and with the city centre. 

Building on such assets, bidders are expected to develop ambitious projects with an open programming, revealing and finding use for the exceptional geothermal heat on site. 


Find at the following link the webstream of the event organized in Reykjavik on 7th March : 


Expected program 
Open programming. Given the prime landmark location with good connections to the sports facilities in Laugardalur and the city centre, almost anything would be possible.

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.

Plot area
Approximately 5700 sq. m.

Type of transfer intended
Land lease agreements in Reykjavík are for 50 years.

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.
Lágmúli 2
108 Reykjavík Iceland


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    05:22    25 / 04
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    03:03    25 / 04
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    01:07    25 / 04
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