National Arena to receive increased funding

The company behind Iceland’s planned new National Arena is set to receive a substantial increase in funding as preparations continue for the project in Laugardalur.

Þjóðarhöll ohf. plans to increase its equity in line with the funding authorization held by the Ministry of Education and Children’s Affairs for construction of the arena. The new venue is planned next to Laugardalshöll.

Allocations to Þjóðarhöll amounted to 1.238 billion Icelandic krónur in the most recent budget. Under the government’s budget bill for 2027, the contribution would increase to 2.422 billion krónur.

The proposed equity increase draws on a general authorization to add capital to public companies. That authorization can be used to expand their capacity to invest or respond to serious operating difficulties.