Real estate and construction in Iceland

ADVEL Attorneys at Law

With a client roster spanning large international and domestic companies, ADVEL Attorneys at Law's practice handles the full spectrum of real estate work including land acquisitions for development projects, financing agreements, arbitration proceedings arising from construction projects, zoning and planning matters and regulatory disputes. Practice head Guðmundur Siemsen, who has notable expertise in PFIs, is highly active across the group's real estate mandates; in a recent highlight, he advised Kolufell on its purchase of plot rights next to the newly constructed Harpa Concert Hall.

Practice head(s):

Guðmundur Siemsen

Testimonials

‘Guðmundur Siemsen has a great holistic understanding of real estate and construction matters. He is also an effective contract writer.’

‘Kristín Hallgrímsson has extensive knowledge and experience in this field.’

Key clients

Mannvit hf.

Silicor Materials

Balcke-Dürr

SPX Corporation

Reitir Real Estate

Kolufell

Arion bank

Mannvit Hungary

Vatnaskil

Klettur

Mannvit Germany

Work highlights

  • Successfully defended Mercedes-Benz and Kia dealership Askja in a damages claim initiated by engineering firm Mannvit following Askja’s termination of the construction contract for its new headquarters.
  • Advised listed company Festi and its subsidiary N1 on negotiations with Reykjavik City relating to the city’s decision to reduce the number of plots for petrol stations in the city.
  • Assisted construction company Kjalarland with a real estate project at Lofnarbrunnar 1-7, involving extensive negotiations with Reykjavik’s zoning and planning authorities.

Lex Law Offices

Lex Law Offices is instructed on construction projects spanning greenfield ports, student apartments, hospitals and silicon plants, where the group provides clients with full-service legal advice. On the contentious side, the group regularly handles zoning and planning litigation and tender disputes, often involving public sector bodies; Guðjón Ármannsson recently acted for Kópavogur, Iceland's second largest municipality, in a case regarding land real estate and areas allocated for future building works. Arnar Þór Stefánsson is also a key name and is advising Costco Wholesale on the real estate aspects of its operations in Iceland including negations with regulators and corporate agreements. Óskar Sigurðsson specialises in property disputes and also handles construction projects.

Practice head(s):

Óskar Sigurðsson; Arnar Þór Stefánsson 

Testimonials

Óskar Sigurðsson has been outstanding in all his work for me. Strategic thinking and knowledge, along with a very quick service is what makes him stand out.

Key clients

Reginn hf.

PCC Bakki Silicon hf.

Reykjavik University

EFLA

Municipality of Kópavogur

Municipality of Ölfus

Municipality of Hveragerði

Municipality of Rangárþing

National Power Company of Iceland

Costco Wholesale Corporation

Work highlights

  • Advising Reykjavik University on the construction of student apartments.
  • Advising NLSH on the construction of a new National University Hospital in Iceland.
  • Representing Kópavogur in zoning plan annulment proceedings.

LOGOS

LOGOS advises construction companies on a diverse range of major projects including the development of residential and commercial housing units and building plans for factories. The group is also active in litigation and handles disputes with contractors, court cases between private companies and municipalities over land, and litigation arising from project delays. Benedikt Egill Árnason frequently advises developers on large-scale housing projects; he recently acted for Hraunbyggd on its development of 2,300 apartments in the Municipality of Hafnarfjörður. Erlendur Gíslason has notable strength advising on construction projects, ranging from the development of factories to university facilities, while team leader Hjördís Halldórsdóttir primarily assists real estate companies with contractual agreements.

Practice head(s):

Hjördís Halldórsdóttir

Key clients

Islenskir adalverktakar hf.

Nordural Grundartangi

Rio Tinto Alcan

Jardboranir hf./Iceland Drilling Ltd.

Landsnet hf.

Munck Island ehf.

Ístak

Framkvaemdafelagid Arnarhvoll ehf.

Eignarhaldsfelagid Hornsteinn ehf.

B.M. Vallá ehf.

Björgun ehf.

Sementsverksmidjan ehf.

BS eignir ehf.

Járn verktakar ehf.

Litlafell ehf.

Government Construction Contracting Agency (Framkvæmdasýsla ríkisins)

Hraunbyggd ehf.

Vatnworks Iceland ehf.

Work highlights

  • Assisting Framkvaemdafelagid Arnarhvoll with the negotiation of a construction agreement for the construction of approximately 75 apartments and commercial housing at Brautarholt 18 – 20 and 21 – 23, Reykjavik.
  • Advising Björgun on its operations, including operational licences and licences for mining the sea-bed, and its relocation from its current office to a new location in Reykjavik.
  • Assisting Vatnworks Iceland with the development of a water bottling factory in Borgarfjörður Eystri.

Juris

Juris' recent real estate work includes advising clients on the development of hotels and data centres, lease agreements, property acquisitions and contentious matters including cases between municipalities and private companies regarding the delineation between private and public land. Simon Knight, who specialises in cross-border real estate and construction deals, recently advised Aðaltorg on the construction of an airport hotel involving a Chinese counterparty. Practice head Halldór Jónsson handles the tax structuring elements of real estate projects and transactions.

Practice head(s):

Halldór Jónsson

Key clients

Iðngarðar ehf.

Korputorg ehf.

Halicilla Ltd.

ÍSAM ehf.

Krókháls 13 ehf.

Reginn hf.

Municipality of Ísafjörður

Work highlights

  • Advised Halicilla on its acquisition of various properties in north-east Iceland, which are connected to the area’s salmon fishing rivers.
  • Representing the Icelandic State in the “óbyggðamál”, a series of cases regarding the delineation between private and public land in the country.
  • Advising Krókháls 13 ehf. and Krókháls 11 ehf./Bílaumboðið Askja on various aspects of a wide range of construction projects, including contractual negotiations, warranty rights and agreements with consulting engineers.