Landsbankinn Building Rising in Reykjavík
The headquarters will be next to Harpa Concert Hall. mbl.is/Árni Sæberg
Despite the COVID-19 pandemic, Landsbankinn’s plans to move into a new headquarters near Harpa Concert Hall in Reykjavík in 2022 have not changed, Morgunblaðið reports. The cost of the whole building was estimated at ISK 11.8 billion in February (the equivalent of EUR 85.57 million at the time) but since then, the Icelandic króna has devalued by nearly 13 percent, which could increase the cost further.
The bank’s quarterly report was published yesterday, showing losses of ISK 3.6 billion (USD 24.5 million; EUR 22.6 million), compared with a profit of ISK 6.8 billion for the same quarter last year.
The bank will occupy 60 percent, or 10,000 square meters (108,000 sq ft) of the building, which is less than half of what it currently uses for its operation, and rent out or sell 40 percent, or 6,500 square meters (70,000 sq ft).
The new headquarters will replace office space currently used by the bank in 12 buildings in central Reykjavík, along with most of the space used at the branch at Borgartún 33.
