Heimar’s policy regarding the location and requirements for the company’s properties is clear. In recent years, we have sold individual properties that do not comply with the policy on investments in cores and invested in properties within cores. The development of the company’s portfolio in this direction is designed to meet the changing attitudes of society, the new generation of consumers, the densification of settlements, changing transportation and demands for sustainability to add value to society, customers and investors. 

The company has focused on consolidating and promoting defined core areas which include, among others: The Smáralind area, central Reykjavík, Borgartún and central Garðabær. Currently, 65% of the square metres in Heimar's portfolio, which account for around 70% of the value of the entire portfolio, are located in defined cores. 

The benefits for residents and society from strong core areas are multi-faceted, and by upgrading diverse sustainable properties within core areas, the surrounding community is strengthened, opportunities to live, play and work in the same area increase, and thus increase value for residents, customers and society as a whole.  

There has been a lot of growth in the operation and development of Heimar’s main cores – whether you look at the full leasing of Höfðatorg, the continued development of Hafnartorg, the development of a healthcare centre in Akureyri or the planned changes in Smáralind, when a new 3,000-square-metre, high-quality office space will be put to use there in 2024. In addition, one of the most elegant restaurant areas in Iceland will open in the eastern end of Smáralind in 2025.