Next Generation Partners

Real estate and construction in Iceland

Lex Law Offices

Lex Law Offices acts for prominent public and private clients in the real estate space, and boasts significant strength in the energy sector. Public procurement and local planning work are key areas for the firm, which has been representing Nýr landspítali in a €47m dispute with a bidder in a tender for the exterior wall system of the New National Hospital project. The group benefits from close ties with major domestic engineering companies and contractors, with experience advising on a broad range of projects. The department is co-led by litigators Óskar Sigurðsson and Arnar Þór Stefánsson. Garðar Víðir Gunnarsson advises domestic and international clients on real estate investments, and has particular strength in the tourism sector, while Guðjón Ármannsson is a key name for property litigation.

Practice head(s):

Óskar Sigurðsson; Arnar Þór Stefánsson

Other key lawyers:

Garðar Víðir Gunnarsson; Guðjón Ármannsson


‘Good and personal service.’

Key clients

Reykjastræti ehf.

Reginn hf.


Stefnir .


Landsbréf hf

Kvika Asset Management hf.

Nýr landspítali ohf. (The New National Hospital)

Fjallabyggð Municipality


Skel fjárfestingarfélag hf.

Work highlights

  • Advising Reykjastræti ehf., on all corporate and commercial issues concerning the setup of a Reykjastræti as a Real Estate Holding Company.
  • Defended the interests of Fjallabyggd municipality when the company Selvík ehf. claimed recognition of damages due to a contract for the development of the town Siglufjorður.
  • Representing Nýr Landspítali ohf., the entity tasked with administering the New National Hospital project, before the Public Procurement Complaints Commission in a case regarding a complaint lodged by a bidder.


LOGOS advises domestic and international clients on the full range of real estate and public procurement matters, and is a leader in construction law, with a strong track record in advising across diverse jurisdictions and industries. The group offers further expertise in contentious mandates, including litigation and arbitration proceedings. Team lead and Supreme Court attorney Hjördís Halldórsdóttir is a leading name for construction disputes, while Erlendur Gíslason has notable expertise in public procurement matters, with experience advising on major infrastructure projects. Benedikt Egill Árnason covers construction law, in addition to supplementary expertise in M&A and banking and finance mandates. Senior associate Kristófer Jónasson is also a key name to note.

Practice head(s):

Hjördís Halldórsdóttir

Other key lawyers:

Benedikt Egill Árnason; Erlendur Gíslason; Kristófer Jónsson

Key clients

Islenskir adalverktakar hf. (IAV)

Nordural Grundartangi ehf.

Rio Tinto Iceland hf.

Jardboranir hf. / Iceland Drilling Ltd.

Icelandair Group hf.

Landsnet hf.

Munck Island ehf.

Istak hf.

Nestak ehf.

Framkvaemdafelagid Arnarhvoll ehf.

Eignarhaldsfelagid Hornsteinn ehf.

B.M. Valla ehf.

Byggingafelagid Bakki ehf. (Bakki Construction)

Bjorgun ehf.

Hlaðbær Colas ehf.

Hraunbyggd ehf.

Sementsverksmidjan ehf.

BS eignir ehf.

Framkvaemdasysla rikisins

Hraunbyggd ehf. and Hjallahraun 4 ehf.

Klasi ehf. / Smárabyggð ehf.

Gylfaflot 2 ehf. and GF-4 ehf.

Qair Energy

Geo salmo ehf.

Dreisam ehf.

Adira ehf.

Rizzani de Eccher Island ehf.

Work highlights

  • Advised Framkvaemdafelagid Arnarhvoll ehf. on the construction of commercial and residential real estate on six land plots in the capital region, valued at ISK12bn.
  • Advised Nordural Grundartangi ehf., in relation to the construction of a new billet casthouse at the company’s aluminium smelter in Grundartangi, Iceland, valued at $130m.
  • Representing IAV in its claim for damages against the accounting firm Ernst & Young ehf. for its alleged negligence in accounting for United Silicon hf., which was taken into bankruptcy proceedings.

ADVEL Attorneys at Law

ADVEL Attorneys at Law fields a team experienced in both contentious and non-contentious matters, with a track record in advising international clients on major commercial projects within Iceland. The group acts across numerous sectors, including the retail, residential and logistics industries, with notable strength advising on data centre projects. Lead partner Guðmundur Siemsen is described by clients as a ‘top-notch lawyer’, and covers contractor, planning and construction law; he is also experienced in litigation.

Practice head(s):

Guðmundur Siemsen


‘Quick to familiarise themselves with complex tasks at hand and deliver good solutions fast.’

‘Guðmundur Siemsen is a top-notch lawyer, quick and agile.’

Key clients

Arion bank

Reitir Real Estate


Work highlights

  • Advising Festi hf. on its forest carbon offset project to reduce the carbon footprint for the entire company group.
  • Advising the atNorth group in relation to various projects which relate to the building and establishment of data centre facilities.


BBA//Fjeldco‘s rapidly growing team handles all aspects of real estate financing and development work, as well as PFI and PPP issues. The group benefits from the support of the firm’s robust corporate and banking teams, positioning the department as a key name for real estate sector transactions. Kári Ólafsson co-leads the team alongside Tómas Magnús Þórhallsson, who made partner in January 2023, and Jóhann Magnús Jóhannsson, who joined the department in May 2023 from an in-house position.

Practice head(s):

Kári Ólafsson; Tómas Magnús Þórhallsson; Jóhann Magnús Jóhannsson

Other key lawyers:

Fridbert Thor Ólafsson; Ásta Margrét Eiríksdóttir

Key clients

Blikastaðaland ehf.

Eik fasteignafélag hf.

Eleven Experience in Iceland

Kaldalón hf.

Hagar hf.

Kadeco ehf.

Harpa Concert and Conference Hall

Arnarland ehf.

Safír byggingar ehf.

Mannverk ehf.

Fasteignafélagið Sæmundur ehf.


Work highlights

  • Acted as the legal adviser to Blikastadaland ehf., and its ultimate parent company, Arion Bank hf., with respect to a partnership agreement with the municipality of Mosfellsbaer on the development of a 90-hectare area of land in the capital area of Iceland.
  • Acted for Safír byggingar ehf. (Safír), a real estate development company and constructor, on all aspects of the ISK5.1bn acquisition of ‘Project Orkureitur’, a new urban neighbourhood in Reykjavík with over 40,000m2, 436 apartments, shops and services
  • Acted as the legal adviser to FPI Group Ltd. and other UK-based investors with respect to the acquisition of land and a land-based fish-farming facility in Iceland.


Juris has strength across all areas of real estate, including project finance work, construction issues and commercial property matters, and is further distinguished by the team’s coverage of conservation projects and issues pertaining to rural real estate. Real estate expert Halldór Jónsson leads the team and is highly experienced in development projects, with supplementary knowledge of tax law. Edda Andradóttir is a key contact for matters relating to the ownership of land, while litigator Stefán A. Svensson has particular strength in planning disputes and construction defects.

Practice head(s):

Halldór Jónsson

Other key lawyers:

Edda Andradóttir; Stefán A. Svensson


‘They provide personal and good service with top legal knowledge, and show concern that their customers make the right choices and take the right steps.’

‘They have the ambition to follow through on their work, especially in negotiations and setting up the right steps to reach the goal or to move forward in the right direction. They keep in mind the best interest of the client at all times. I have worked closely with Halldór Jónsson, who has helped the business many times with his advice.’

Key clients


Reginn hf.

Norðurturninn hf.

Ísloft blikk og stálsmiðja

Icelandic Ministry of Finance and Economic Affairs

HS Orka hf.

Arkaia Iceland ehf.


Municipality of Garðabær

Municipality of Ísafjörður

Míla hf.

Work highlights

  • Advising InstaVolt on the establishment of its EV rapid charging operations in Iceland.
  • Advising Olympus and Sikmas on their investments in the Skuggi 6 residential real estate development.
  • Representing the Icelandic state in the ‘óbyggðamál’ series of cases, demarcating public and private land.

Landslog – Law Offices

Landslog – Law Offices is a prominent name in commercial real estate matters, with expertise in construction work, public tenders and M&A transactions. The group has further strength in contentious matters, including procurement disputes and construction defect claims. Jóhannes Karl Sveinsson jointly leads the department with Jóhannes Bjarni Björnsson; Sveinsson leads on contentious matters, while Björnsson is a key contact for major PPP projects.

Practice head(s):

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson


‘Availability, results.’

‘Availability, case management, focus when needed and an eye for the best solution.’

Key clients

The Icelandic Road and Coastal Administration (IRCA)

Icelandic Prime Contractors


Icelandic Regional Development

Work highlights

  • Acting as head legal counsel for the Icelandic Road and Coastal Administration in connection with major traffic structures.
  • Advised Alma Real Estate Company on the acquisition of a number of real estate properties in the amount of approx. $52m.
  • Acted as counsel for IAV, Iceland Prime Contractors, advised on contracts, negotiations with clients and overseeing litigation.