The building was designed by Henning Larsen, a well-known Danish architect who also designed the Copenhagen Opera House.
The new concert and conference centre will be located in the old city harbour of Reykjavík and includes a concert hall for approx. 1,800 visitors, a rehearsal hall for approx. 450 visitors and a conference hall for 750 visitors.
The overall project also includes a multi-storey car park, shops, restaurants, office and residential buildings and parks as well as pedestrian zones. Its completion is scheduled for 2010.