105 Miðborg to build new neighbourhood at Kirkjusandur


Development company 105 Miðborg plans to build a new neighbourhood in Kirkjusandur, with 150 residential flats, office space, a neighbourhood store, and a hotel. In March, the City of Reykjavík and Íslandsbanki signed an agreement providing for development of the Kirkjusandur area, and this project is a part of that contract. Íslandsbanki subsidiary IS Funds is the manager for the project, which is backed by a broad group of shareholders. 

105 Miðborg will build nearly 42,000 m2 of above-ground housing with various types of flats. Plans include a pre-school, a grocery store, and a hotel. The project is estimated to take 4-5 years to complete, with the first residential units ready for their new owners by spring 2020.

Kjartan Smári Höskuldsson, Managing Director of IS Funds:

“It is an exciting and demanding task to build a new, high-quality neighbourhood in a prime location in the city. As a result, we place strong emphasis on responsible development guided by the overall interests of the neighbourhood. The project is backed by a strong investor group, and it has been gratifying to see how much positive interest it has generated. The Kirkjusandur flats will be of various types, and there will be strong emphasis on planning and design of first-class commercial property. Kirkjusandur will be a new flagship office building in Reykjavík, extending directly from Borgartún, with ample parking space, good access, and an outstanding location. Managing the development of the neighbourhood as a whole also adds to the economic efficiency of the project.”

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More