Reykjavík Landmark Perlan Sold Skip to content

Reykjavík Landmark Perlan Sold

The executives of Reykjavík Energy (Orkuveita Reykjavíkur; OR) have signed a preliminary contract to sell Perlan (The Pearl) to the highest bidder for close to ISK 1.7 billion (USD 14 million, EUR 11 million).


Perlan. Photo by Páll Stefánsson.

Perlan is a landmark building, situated on the hill Öskjuhlíð. It is frequented by tourists, among other reasons for the panoramic rooftop view of the capital.

Designed by architect Ingimundur Sveinsson, Perlan opened in 1991. The building comprises of six hot water storage tanks with a hemispherical restaurant placed on top.

Perlan was put up for sale last autumn because of the tight financial situation of OR, the owner. However, the storage tanks will not be sold, only the revolving restaurant, and the spacious facilities between the tanks.

According to, six offers were made and the highest bid came from unnamed investors in the construction and travel industries.

Perlan is one of many assets OR is planning to sell, assets that are not related to the company’s core operations, that is, providing electricity, cold and hot water to the southwestern corner of Iceland.

Click here to read more about OR’s acquisition plans for Perlan and the company’s financial situation.


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