Next Generation Partners

Real estate and construction in Iceland

Juris

Juris advises clients across various industries on real estate and construction matters, including residential, commercial, and energy sector projects, lease issues, and planning matters. A significant case the practice has been involved in is managing force majeure issues in construction contracts while assisting the Icelandic state with the acquisition of all residential properties in Grindavík after volcanic activity made the town uninhabitable. Practice leader Halldór Jónsson handles residential construction projects, including the development of formerly industrial zones into new mixed-use residential, commercial, and retail zones. Hildur Þórarinsdóttir, who was promoted to the partnership in May 2024, focuses on the procurement of construction contracts and related disputes, while key associate Sigrún Magnúsdóttir is also a noteworthy contributor to the practice.

Praxisleiter:

Halldór Jónsson


Weitere Kernanwälte:

Hildur Þórarinsdóttir; Sigrún Magnúsdóttir; Simon Knight


Referenzen

‘Good knowledge and very professional.’

Kernmandanten

Icelandic Ministry of Finance and Economic Affairs


Reykjavík Energy (Orkuveita Reykjavíkur)


Reykjavík Fibre Network


Veitur Utilities


ON Power


Carbfix


Highlight-Mandate


  • Advised Skuggi on its residential real estate development projects.
  • Advised Samtök fjármálafyrirtækja (Finance Iceland) on the financing of the purchase of all residential housing in the town of Grindavík.
  • Advised Innviðir fjárfestingar II on its purchase of the Seltjörn nursing home.

LOGOS

Praised as ‘highly experienced’, LOGOS offers comprehensive legal services to leading construction companies, guiding them through every phase of the construction process, and handles various real estate matters, including transactions, property developments, commercial leases, and the associated tax concerns. Practice head Hjördís Halldórsdóttir is an expert in construction-related litigation and commercial and financial disputes. Benedikt Egill Árnason specialises in construction law, M&A, and energy-related matters, while Erlendur Gíslason provides counsel to leading Icelandic companies on construction and procurement law. Key associate Katla Lovísa Gunnarsdóttir supports clients across a wide spectrum of construction and public procurement issues.

Praxisleiter:

Hjördís Halldórsdóttir


Weitere Kernanwälte:

Benedikt Egill Árnason; Erlendur Gíslason; Katla Lovísa Gunnarsdóttir


Referenzen

‘They have great experience within the business field and act very fast.’

‘They have a realistic and “feet on their ground” approach to the respective cases and are easy to communicate with. Highly experienced. Main person of contact is Hjördís Halldórsdóttir.’

Kernmandanten

Adira ehf.


Berjaya Hotels Iceland hf.


Bjorgun ehf.


B.M. Valla ehf.


BS eignir ehf.


Dreisam ehf.


Eignarhaldsfelagid Hornsteinn ehf.


Framkvaemdafelagid Arnarhvoll ehf.


Geo salmo ehf.


Fasteignafelagid Thorkatla ehf.


Government Property Agency (Framkvaemdasyslan – Rikiseignir)


Gylfaflot 2 ehf. and GF-4 ehf.


HeidelbergCement Pozzolanic ehf.


Hjallahraun 4 ehf.


Hladbaer Colas ehf.


Hraunbyggd ehf.


Islenskir adalverktakar hf. (“IAV”)


Istak hf.


Klasi ehf. / Smarabyggd ehf.


Landsnet hf.


Nestak ehf.


Nordural Grundartangi ehf.


Rio Tinto Iceland hf.


Sementsverksmidjan ehf.


Sulur Reykjavik ehf.


Qair Energy


Highlight-Mandate


  • Advised Fasteignafelagid Thorkatla ehf., a government-founded company managing the purchase of 852 properties in Grindavik due to volcanic activity, handling legal negotiations, corporate structuring, and safeguarding the company’s interests.
  • Advised Sulur Reykjavik ehf. on a complex real estate transaction, securing long-term financing, revolving construction funding, and a long-term lease.
  • Advised Framkvaemdafelagid Arnarhvoll on a large, complex real estate development in Gardabaer, assisting with land acquisition, financing, and ongoing construction and environmental issues.

ADVEL Attorneys at Law

ADVEL Attorneys at Law offers comprehensive legal support to major domestic and international clients across real estate, project development and construction mandates; dispute resolution involving landmarks, natural resources, and geothermal energy; as well as tendering, public procurement, and project management issues. Practice leader Guðmundur Siemsen has notable experience in the field, specialising in real estate law and all related aspects such as landmarks, contractor issues, planning work, and construction law.

Praxisleiter:

Guðmundur Siemsen


Kernmandanten

Arion bank


Reitir Real Estate


Kolufell


Highlight-Mandate


  • Advised Festi hf. on its forest carbon offset project to reduce the carbon footprint for the entire company group and purchase of land in Iceland which will be used for this project.
  • Advising the at North group in relation to various aspects of project which relates to building and establishing data centre facilities.

BBA//Fjeldco

BBA//Fjeldco offers expert legal counsel to domestic and international clients in Iceland, specialising in all areas of real estate law, including financings, developments, PFI and PPP issues, and real estate disputes. The team is co-led by Kári Ólafsson, who advises on real estate, construction, planning, and zoning matters; Tómas Magnús Þórhallsson, who is an expert in real estate transactions and advises listed real estate companies; and Jóhann Magnús Jóhannsson, who is experienced in negotiating real estate deals. Key associate Einar Brynjarsson assists clients in court during real estate and construction disputes.

Praxisleiter:

Kári Ólafsson; Tómas Magnús Þórhallsson; Jóhann Magnús Jóhannsson


Weitere Kernanwälte:

Einar Brynjarsson


Kernmandanten

Icelandic Ministry of Finance


Harpa Concert and Conference Hall


Hagar hf.


Alvotech


Highlight-Mandate


  • Advised the Icelandic Ministry of Finance in a significant transaction in relation to the Government’s initiative purchase of the majority of residential houses in the town of Grindavík, whose 4,000 residents have recently been displaced by ongoing volcanic eruptions in the area.
  • Advised 105 Miðborg slhf., a fund managed by Íslandssjóðir and owned by Icelandic pension funds, insurance companies and private investors, and the developer of a major 80,000 square meters redevelopment and construction project in Kirkjusandur.
  • Advised “Heklureitur” on a project in central Reykjavik, covering every aspect of the acquisition, financing, and due diligence, guiding the company through complex negotiations with the municipality, addressing crucial issues such as planning and zoning.

Landslog – Law Offices

Landslog – Law Offices specialises in complex construction and development projects in Iceland, including dams, power plants, heavy industrial facilities, conference and concert halls, sports arenas, and other large-scale projects. The practice is co-led by Jóhannes Karl Sveinsson, who is an expert in public procurement and construction-related litigation, and recently represented the municipality of Kópavogur in a high-profile arbitration case. Fellow co-head Jóhannes Bjarni Björnsson assists clients with a wide range of issues, including advising the Icelandic Road and Coastal Administration on significant traffic infrastructure projects.

Praxisleiter:

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson


Weitere Kernanwälte:

Magnús Ingvar Magnússon


Referenzen

‘Magnús Ingvar Magnússon is a very strong lawyer in the field. He has what is nowadays very rare in a lawyer, he has practical experience from the contractor field. He is also a strong communicator and good team player.’

Kernmandanten

The Icelandic Road and Coastal Administration


Icelandic Prime Contractors


Alma


Icelandic Regional Development


Highlight-Mandate


  • Advised the Icelandic Road and Coastal Administration in connection with major traffic structures which is planned to be built on the basis of the newly approved Act on Public-Private Partnerships.
  • Advised the municipality of Kópavogur in a high-profile arbitration case against Italian contractor Rizzani De Eccher concerning the termination of a €30m construction contract for a large school project, successfully securing a tribunal decision in September 2024.

Lex Law Offices

Lex Law Offices‘ ‘highly experienced team’ assists high-profile clients with a wide range of real estate and construction matters, including construction contracts, local planning issues for real estate, public procurement work, and disputes. The practice is jointly led by Óskar Sigurðsson, who focuses on real estate and property law, urban planning, and environmental law; and Arnar Þór Stefánsson, who specialises in litigation in the field of construction, real estate, and property law. Key member Guðjón Ármannsson has experience in property issues, natural resources law, and urban planning.

Praxisleiter:

Óskar Sigurðsson; Arnar Þór Stefánsson


Weitere Kernanwälte:

Guðjón Ármannsson


Referenzen

‘Highly experienced team.’

‘Lex stands out in the industry for its exceptional focus on Real estate and construction, making it a go-to choice for clients seeking specialised expertise in this field.’

‘The team at Lex is comprised of highly skilled professionals who bring a wealth of experience to the table. Clients benefit from their thorough knowledge, not only of the legal aspects but also of the commercial and regulatory landscapes, ensuring that every piece of advice is practical and actionable.’

Kernmandanten

Fredensborg AS


Highlight-Mandate


  • Advised Fredensborg, a Nordic rental apartment company, in its sale of its Icelandic subsidiary, Heimstaden ehf. to Stefnir, an Icelandic investment fund manager
  • Advised Heimar hf. (formerly Reginn hf.) in connection with its voluntary offer to all shareholders of Eik real property company hf.
  • Advised Árborg Municipality on the sale of properties and with writing sale terms, purchase agreements, communication and establishing a contractual relationship between the project purchaser and other consultants necessary for the projects.