The building of the Concert and conference hall in Reykjavík to finish in 2011
Austurhofn –TR has taken over the companies Portus and Siturs, that were the owners of the Concert and conference hall project, as well as the adjacent building site at Austurbakki 2, after contracts have been signed between Austurhofn and the Landsbanki, Ministry of education, Ministry of finance the Mayor of Reykjavik and Nysir.
With the agreement Austurhofn takes over all rights and duties that come with the contract about building and the operating the Concert and conference hall. Continuing financing of the project has at the same time been insured and is a part of this agreement. Estimated cost of finishing the project is 14,5 billion Icelandic kronas, including interests during the construction period.
Earlier in the week an agreement was made between Austurhofn – TR and IPC about the execution of the project till the end. It is in substance the same contract as IPC had before apart from changes in the project time and various appendixes, cost cutting possibilities, and other measures necessary to insure a successful project finish. The project is supposed to finish in February 2011 and the building to start operation in April the same year.
