Real estate and construction in Iceland

ADVEL Attorneys at Law

ADVEL Attorneys at Law counts domestic and international companies across the real estate and energy sectors, including Mannvit Engineering and Kolufell, on its key roster of clients. The team successfully represented real estate developer Reitir before the appeals court in a case involving the correction of an encumbrance error by the public registrar, regarding a property in Hallarmuli, Reykjavik. Gudmundur Siemsen leads the practice and is noted for his experience in projects and disputes relating to landmarks, contractor issues, planning and construction cases, and public procurement work.

Practice head(s):

Guðmundur Siemsen

Key clients

Mannvit hf.

Balcke-Dürr

SPX Corporation

Reitir Real Estate

Kolufell

Arion Bank

Vatnaskil

Work highlights

  • Representing SMI ehf. in defence of a claim for an alleged pre-emptive right of the plaintiff, under a lease agreement.
  • Representing Reitir Real Estate before the appeals court, Landsréttur, in a case involving the correction of an encumbrance error by the public registrar.

Lex Law Offices

Lex Law Offices’ diverse client roster includes property companies, municipalities, public entities, energy companies, landowners and owners of natural resources, as well as the Federation of Icelandic Fishing Vessel Owners. The team has a track record in handling landmark cases involving defaults in real estate and local planning issues, in addition to property mandates relating to the constitutional right of peaceful enjoyment. Oskar Sigurdsson, who represents clients in property disputes, heads up the practice alongside Arnar Thor Stefansson, while Gudjon Armannsson is another key member of the team.

Practice head(s):

Óskar Sigurðsson; Arnar Þór Stefánsson

Other key lawyers:

Guðjón Ármannsson

Testimonials

‘Ease of access, response time and of course, quality of work.’

‘The group stands out for the ability to communicate the situation as it is and how possibilities will play out.’

Key clients

Nýr Landspítali ohf. (NLSH)

Kópavogur Municipality

EFLA Consulting Engineers

Reginn hf.

EKO Eignir ehf.

The Icelandic State

Grímsnes- and Grafningshreppur (municipality)

Work highlights

  • Acting as lead counsel to public entity NLSH, regarding the construction of a new university hospital in Reykjavik, Iceland.
  • Representing Kópavogur municipality in an ISK75bn court case regarding land real estate.
  • Appointed as a member of the government ‘s working group for the improvement of the country‘s infrastructure due to a heavy storm in Iceland in late 2019.

LOGOS

LOGOS handles a broad range of real estate mandates, including property developments, commercial leases and related tax issues; in a recent highlight, the team advised Hraunbyggd on financing, planning and purchasing matters regarding the development of a 2300 apartment neighbourhood in the municipality of Hafnarfjörður. Team leader Hjordis Halldorsdottir, who specialises in public procurement work, boosts the practice’s capability in construction and real estate disputes, alongside transactional partner Benedikt Egill Arnason. Aviation specialist Erlendur Gislason is another key member of the team.

Practice head(s):

Hjördís Halldórsdóttir

Other key lawyers:

Benedikt Egill Árnason; Erlendur Gíslason

Key clients

Islenskir adalverktakar hf. (IAV)

Nordural Grundartangi ehf.

Rio Tinto á Íslandi hf.

Jardboranir hf./Iceland Drilling Ltd.

Landsnet hf.

Munck Island ehf.

Ístak hf.

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.

Eykt ehf.

Byggingafélagið Bakki ehf.

Klasi ehf. / Smárabyggð ehf.

Hlaðbær Colas ehf.

Work highlights

  • Advised Hraunbyggd ehf. on the financing, planning and purchase of real estate in relation to a 2300 apartment development project.
  • Advised Smárabyggð in negotiating with an Icelandic municipality and contractors regarding a 670-unit housing project valued at €260m.
  • Advised Byggingafelagid Bakki on negotiations with an Icelandic municipality regarding a €65m project.

Juris

Juris’ workload includes a range of real estate and construction matters, from advising listed property companies and developments to handling investments in fishing rivers and representing Icelandic municipalities in complex disputes. The team also continues to expand its expertise into the field of project finance. Halldór Jónsson leads the practice group and key contact Edda Andradóttir acts as lead adviser to the Icelandic Ministry of Finance and Economic Affairs in several ongoing cases regarding the delineation between private and public land.

Practice head(s):

Halldór Jónsson

Other key lawyers:

Edda Andradóttir

Key clients

Municipality of Ísafjörður

Icelandic Ministry of Finance and Economic Affairs

Halicilla Ltd.

Norðurturninn hf.

Municipality of Garðabær

Kvika banki hf.

Ísloft blikk og stálsmiðja ehf.

Work highlights

  • Advising Halicilla and its Icelandic Six Rivers Project on the management of various properties in north-east Iceland.
  • Acted on behalf of Ísafjörður in a dispute regarding a 1976 assignment of rights in power production from Ísafjörður to the Westfjord Power Company.
  • Representing the Icelandic State in the “óbyggðamál”, a series of cases which have been ongoing for the last decade to delineate between private and public land.