The Costco wholesale store will open on the outskirts of Reykjavik at the beginning of next year if all goes according to plan.

The Costco wholesale store will open on the outskirts of Reykjavik at the beginning of next year if all goes according to plan.

Costco, the second largest retailer in the US will be opening a branch in Iceland at the beginning of next year. The store will be located in Garðabær, a municipality of the greater capital area, right next to IKEA, Bónus and other stores. Costco will be buying a large part of the building Kauptún 3 from the company Sýsla owned by brothers Sigurður Gísli Pálmason and Jón Pálmason.

Representatives of Costco first looked at locating at Korputorg, close to Mosfellsbær, a suburb of Reykjavík.

According to Mayor of Garðabær, Gunnar Einarsson, Costco will be managed from Britain and the sales contract of Kauptún 3 is ready and is being looked at at the Costco headquarters in Britain.