June 10, 2020
21/12/2020

Kadeco focuses on land development

On Kadeco‘s Annual GeneralMeeting June 8th 2020, Managing Director Pálmi Freyr Randversson presented a change of course in Kadeco’s operations. Now, emphasis is placed on the development of land surrounding Keflavik Airport. Kadeco was founded in 2006and has since led the development and transformation of the former U.S. military base surrounding Keflavik Airport. In 2019, the company completed its initial main objective; to bring properties that the U.S. military left in Iceland to civilian use.

A powerhouse of economic growth and innovation

Kadeco has joined forces with Max Hirsh (PhD, Harvard). Dr. Hirsh is Managing Director of theAirport City Academy and a leading expert on airports and urban development. “Kadeco has a once-in-a-lifetime opportunity to transform the Keflavík airport area into a national powerhouse of economic growth and innovation. With proper planning, developing the airport area will improve operational efficiency and drive non-aeronautical revenue for the airport, create economic growth and employment opportunities in the surrounding communities, and position Iceland as a global thought leader in the aviation industry. I’m looking forward to working with Kadeco to identify key development opportunities and create a common vision for the airport area. And I’m honored to be part of a project that is of national importance to Iceland, and to the Icelandic people.”

An International competition for a new Masterplan

Halldóra Hreggviðsdóttir and Árni Geirsson from Alta Consulting introduced their work on preparing the ground for a competition on a new Masterplan for the area. The competition will be launched in 2021. “This is a large-scale project that has potential to increase employment and economic growth, in surrounding areas as well as the rest ofIceland,” Hreggviðsdóttir said in her presentation. “It is important thatKeflavik Airport will fully serve as the driving force that it can be. In order for the project to succeed proper planning and preparation is vital.”

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