Icelandic Bank to Build Large New HQ Skip to content

Icelandic Bank to Build Large New HQ

Landsbankinn bank has decided to build itself a new headquarters next to Harpa on Reykjavík’s eastern quayside.

A press release from the bank says that all centralized operations will be based in the new building, instead of across 14 current office spaces in central Reykjavík, and further afield.

Although the new construction is expected to cost around ISK 8 billion (EUR 54.1 million/USD 58.9 million), the bank says it will save ISK 700 million a year in maintenance costs. RÚV reports that the bank is opening a design competition for the new building; as well as consulting the public on what should be done with its current headquarters at Austurstræti 11.

Landsbankinn predicts that the investment in a new home will pay itself off within ten years, by allowing the bank to improve service and cut down on costs, waste and maintenance risks.

The new Landsbankinn HQ is planned to stand next to the Harpa Concert and Conference Centre, in an area which is currently a deep hole. In the same area, just a little closer to the sea, a hotel and apartments will be constructed.

The bank plans to announce the results of its design competition in February and Steinþór Pálsson, director, says he hopes the bank can move to its new home in 2019.

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