Designed by BDP and built by ÍSTAK, it was opened on 10 October 2001 at 10:10 GMT.

[1] Smáralind competes with other shopping centers of the Capital Region: Kringlan mall and Reykjavík's old city centre.

Other major tenants are Zara and SmáraTívolí, a children's entertainment centre.

There are a number of well-known restaurants and cafés, including Subway, Pizza Hut, Sbarro, O'Learys, and T.G.I.

[3] Immediately after opening its resemblance to a giant phallus when viewed from the air created some notoriety.