New National Stadium to Cost ISK 14.2 Billion

It will cost an estimated ISK 14.2 billion [$99.8 million; €92.1 million] to build Iceland’s new national stadium, RÚV reports.

The overall cost of the project is to be split between the state and the City of Reykjavík, but it has yet to be determined how the expense will be divided.

See Also: Location Chosen for New National Stadium

The new stadium, intended to be ready for use by 2025, will be 19,000 sq m and accommodate 8,600 people for sporting events and 12,000 people for concerts. It will have facilities for handball and volleyball matches, basketball and football games, and more.

Location Chosen for New National Sporting Arena

The working committee for Iceland’s new national sporting arena has selected a location for the facility and it’s hoped that construction will begin at the end of 2023, RÚV reports. If everything goes to plan, the new arena will be ready for use some time in 2025.

The new national arena will be built between Laugardalsvöllur, the existing arena on the east side of Reykjavík, and Suðurlandsbraut. The working committee is currently writing a land-use plan that they expect to complete by March or April. The committee intends to present a detailed justification for the site selection and a report on the scope of construction in mid-December.

The next major step for the committee is to determine what the exact dimensions of the facility need to be in order to meet international requirements for hosting national sporting events. Once the square meterage has been established, the committee will be able to provide a reasonably accurate estimate for how much the arena will cost. The expense will be shared by both the city and the national government, although in what proportion is not yet clear.

New National Sporting Arena to be Built in Laugardalur

The Icelandic government and City of Reykjavík have agreed to build a new, national sporting arena in Laugardalur. The arena will fulfill the requirements for international competition in indoor sports and greatly improve the available facilities for schools and sports associations in Laugardalur. Construction is expected to be completed by 2025.

This was announced in a joint press release issued by the Prime Minister’s Office, the Ministry of Education and Children, and the City of Reykjavík.

The state and the City of Reykjavík have agreed to guarantee funding for the arena’s initial costs in their long-term budgets. A full cost estimate will be available after the final design and a feasibility study are both completed. The division of the total project cost will depend on the utilization of the arena and the needs of each party—the state with an eye to the requirements for international competitions that national sports teams compete in, and the city with an eye to the needs of local sports clubs and sports education.

A special committee will be established to oversee the feasibility study and construction preparations, not least how the financing will be handled.

The Icelandic government and City of Reykjavík will hold a joint competition to determine the arena’s design and overall appearance.

Preparations for a national stadium for track-and-field in Laugardalur and a national football stadium will continue. A market survey will be carried out to lay out clear options for how to proceed with the development of the national football stadium.