The history of Byggðaverk ehf. dates back to the year 1980 when the company was founded by Sigurður Sigurjónsson, Júlíus Júlíusson, and Guðjón Davíðsson. Over the following years, Byggðaverk became one of the largest contracting firms in the country. Gísli joined the company in 1984, quickly becoming one of its owners. From 1996, it was owned by Gísli and Steinunn, who then sold the company in 2000.

The name holds significant value to Gísli, as it carries a long and storied history behind it, and it has now returned to Gísli's hands. The goal is for Byggðaverk ehf. to become a progressive technology company in the field of construction and design in the coming years.