Kadeco has led the development and transformation of Asbru, a former military base, since 2006 when the US government returned the region to the Icelandic government. Initially, one of Kadeco’s main objectives was to bring remaining properties back into civilian use.
The area has successfully been redeveloped into a neighbourhood that suits both individuals and families. Asbru is now home to over 4,000 people, and over 300 companies are registered in the area, creating more than 2,000 jobs. Asbru is a part of Reykjanesbær, a town with around 19,000 inhabitants, and is currently defined as the town’s main development area.
The available property is state-owned lots leased for a period of 50 years. The annual rent is higher of the following: either 2% of the lot’s assessed value or ISK 107.44 per square meter according to the construction costs index as of January 1, 2021 (749 points).