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.