Iceland and Reykjavík formally launched construction of the new National Arena in Laugardalur on Thursday creating a multi-purpose venue designed to seat 8,600 people and host up to 12,000 guests for major indoor competitions and cultural events.
Capacity Supports Elite International Tournaments
- Event Hosting Capacity: The 12,000-person capacity resolves decades of facility exemptions, positioning the capital for elite international tournaments.
- Schedule Pressure: Meeting the January 25, 2030 completion deadline is necessary for the venue ahead of the 2031 Men’s Handball World Championship.
State and City Fund the Project Through 2030
The 16.825 billion ISK contract is indexed from January 2026. The state is funding 55% of the project, while the city of Reykjavík contributes the remaining 45%.
Completion is due by January 25, 2030. This schedule places the venue on a strict timeline ahead of the 2031 Men’s Handball World Championship.
| Project Metric | Specification |
|---|---|
| Total Contract Value | 16.825 billion ISK |
| Funding Split | State (55%), Reykjavík (45%) |
| Seating Capacity | 8,600 (Up to 12,000 for events) |
| Target Completion Date | January 25, 2030 |
Integrating Elite Standards in Laugardalur
The ground-breaking ceremony marks a material new stage following the selection of the winning design earlier in the year. The building is intended for international handball and basketball, training sessions, school athletics, concerts, and other large gatherings.
Iceland’s existing indoor venues have long required regulatory exemptions for major international competitions. The new arena is planned to meet strict international standards while linking with nearby sports facilities, walking paths, and cycling routes across Laugardalur.
The Project Targets BREEAM Very Good Environmental Rating
The project is targeting a BREEAM Very Good environmental rating, combining modern sustainable architecture with heavy-duty athletic infrastructure. Its construction schedule is tightly bound to Iceland co-hosting the 2031 men’s handball championship alongside Denmark and Norway, building directly on the country’s strong international profile in the sport.
Construction work moves forward with state and municipal backing firmly locked in place.
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