Business & Government Apr 24, 2017

Blue Lagoon and IKEA Set to Build Affordable Apartments For Their Employees

The two companies are putting the well-being of their Icelandic employees first.

They say a happy staff is a productive staff. Icelanders are some of the happiest people in the world, and IKEA and Blue Lagoon are two companies that may have something to do with that. Since the cost of living in Reykjavik has increased over the past year, IKEA and Blue Lagoon have taken steps to better accommodate their employees by giving them an affordable place to live. The average price of a one-bedroom apartment in downtown Reykjavik is 175,000 krona ($1,555) per month, so the companies plan to offer a more affordable price tag to ensure better living conditions at a better location for their staff.

Blue Lagoon will build 24 apartments in Grindavík, a small town close to the lagoon, with construction set to begin later this spring. Similarly, IKEA is building a residential block with 36 fully-furnished apartments just a five minute walk away from the IKEA store. The company hopes the apartments will be ready for move-in by summer 2018. IKEA also recently announced that while its Icelandic employees while be given priority to renting the apartments, they may offer availability to students or nearby workers at other local businesses.

Hats off to IKEA and Blue Lagoon for being so considerate of its Icelandic employees!