ÞG Verk has completed the acquisition of part of Reykjavik Development ehf. in their development project at Hafnartorg in the center of Reykjavík. The purchase price is confidential.
“With this acquisition, the project will be transferred from a development company to a developer who has the capacity to continue projects of such magnitude and meet the schedule. Hafnartorg is a very demanding project that needs to be done in difficult conditions. ÞG Verk will strive to work on the project in harmony with the environment so that there is as little disruption and disturbance from the project as possible. Plans assume that Hafnartorg will be ready in 2018 -2019, but ÞG Verk focuses on completing the project in 2018, “says Davíð M. Sigurðsson, Marketing Director of ÞG Verk, in an announcement.
He says that the design of the project is very ambitious and takes into account the surrounding environment to support the overall picture of the area.
Hafnatorg is a combination of retail space, office space and magnificent apartments on the upper floors of five of the seven buildings that will be built. The total area of square meters above the ground is 23,350, to which is added a car park that connects all the way to Harpa’s current car park. Reginn has already secured the purchase of all 8,000 m² which will include shops of various kinds. ÞG Verk will use the next few weeks to get involved in the project, but no decisions have been made regarding changes from the current structure.