The building houses teaching, research and events connected to foreign languages and culture. The building was named Veröld – the house of Vigdís (the World), after a competition among the public.
The Vigdís Finnbogadóttir Institute of Foreign Languages is located in the building. The institute operates in cooperation with the Icelandic government and UNESCO.
The building boasts of excellent facilities for lectures and conferences, work spaces for visiting scholars, and rooms for teaching and research in the field of foreign languages.
A small collection commemorating the historic election of Vigdís Finnbogadóttir as president in 1980 can also be found in Veröld, along with a space dedicated to exhibitions on language and culture.
The goal of the house’s operations is to increase knowledge in the field of foreign languages and culture and to increase awareness of the importance of such knowledge in society at large.
The house opened formally on 20 April 2017.