Construction work is set to begin on a Marriott hotel next to the concert hall Harpa early April, the local TV station Stöð 2 reports. The hotel is expected to open in early 2019. The construction would obliterate the best known and most visible monument to the 2008 financial crash.
Monument to 2008 financial crisis
The construction site next to Harpa has stood empty since the fall of 2008 when the construction of a “Reykjavík World Trade Centre” and the headquarters of failed Landsbankinn bank was abandoned due to the financial crisis and the collapse of the Icelandic banking system.
Instead of being dominated by bank headquarters the site will now see a 253 room five star Marriott Edition hotel. Work on the car park beneath the hotel is scheduled to start early April. However, the site is still expected to see the construction of bank headquarters, although these will be smaller and less imposing than those which were being planned in 2008.
Condos, shops and a bank
The hotel will be located next to Har pa, in the northern part of the site. A multi apartment building with shops on the ground floor and 73 condos on the upper floors will be constructed south of the Hotel, next to the harbour.
The third major construction on the site is owned by the bank Landsbankinn which was founded on the ruins of its namesake which collapsed in 2008. The bank is planning to build new headquarters at the site.
Construction work is set to begin on a Marriott hotel next to the concert hall Harpa early April, the local TV station Stöð 2 reports. The hotel is expected to open in early 2019. The construction would obliterate the best known and most visible monument to the 2008 financial crash.
Monument to 2008 financial crisis
The construction site next to Harpa has stood empty since the fall of 2008 when the construction of a “Reykjavík World Trade Centre” and the headquarters of failed Landsbankinn bank was abandoned due to the financial crisis and the collapse of the Icelandic banking system.
Instead of being dominated by bank headquarters the site will now see a 253 room five star Marriott Edition hotel. Work on the car park beneath the hotel is scheduled to start early April. However, the site is still expected to see the construction of bank headquarters, although these will be smaller and less imposing than those which were being planned in 2008.
Condos, shops and a bank
The hotel will be located next to Har pa, in the northern part of the site. A multi apartment building with shops on the ground floor and 73 condos on the upper floors will be constructed south of the Hotel, next to the harbour.
The third major construction on the site is owned by the bank Landsbankinn which was founded on the ruins of its namesake which collapsed in 2008. The bank is planning to build new headquarters at the site.
