EXCLUSIVE: Iceland’s film mogul Baltasar Kormákur has just acquired from Reykjavik City Council land and buildings to convert into Hollywood-style film studios.

The deal signed last week between Reykjavik City Council and Kormákur’s production outfit RVK Studios for the acquisition of a former fertiliser factory and surroundings in Gufunes, Grafarvogur, is worth an estimated ISK 301M (€2.15M) according to RUV. 

Confirming the news to nordicfilmandtvnews.com, Kormákur said: “This idea goes back to the early 2000s when the City of Reykjavik said they wanted a film studio. I then decided to negotiate for this old factory and plot of land at Gufunes. It’s absolutely ideal for film studio facilities, situated on the most beautiful underdeveloped property right inside Reykjavik. The studio space itself is 3,500 m2, with three other buildings. The land it stands on is around 9,000 square meters and we’ve optioned an extra 20,000 square meters next to it. “

“The plan is to create a kind of Zentropa ‘filmbyen’, where entertainment companies working in film, television, video game, virtual reality etc would be based. Several companies are already negotiating with us and the Icelandic Film School is discussing with the City of Reykjavik for other land in the area.”

Kormákur plans to use his new studio facilities to film his long-gestating Viking project, optioned by Working Title and Universal. “With these new facilities, we will hopefully be able to shoot 90% of the film in Iceland, stressed the director of Everest. 

Kormákur’s planned film studios come at the right time as the local government intends to boost filming in Iceland by increasing the filming rebate from 20% to 25% next year. “This [25% rebate] is vital to stimulate filming here and reinforce the local film industry,” he noted. 

As busy as ever, the director/producer who shares his time between Hollywood and his native Iceland has numerous Icelandic films and TV dramas in various stages of production. 

- The thriller The Oath (backed by Nordisk Film & TV Fond) was introduced to buyers in Cannes and pre-sold by XYZ Films to multiple territories according to Kormákur. The film in which the director plays a successful surgeon who tries to save his drug-addicted daughter is set to launch in September.  “I had several offers from Hollywood that I put on hold to go back home and do this film” stressed Kormákur to nordicfilmandtvnews.  

- The TV series The Mayor produced by RVK Studios for Stöð 2/Channel 2 just started filming last week. The comedy show is created and played by Jón Gnarr based on his real life experience as former mayor of Reykjavik. (see our interview with Jón Gnarr: CLICK HERE.

Other projects include season 2 of Trapped, the thriller series Katla and the feature film Mules by Trapped episodic director Börkur Sigthorsson.