Republic of Ireland’s capital Dublin was 16th on the list. Geneva overtook London in the 2023 survey as the most expensive to build in the world, with London in second, New York third and San Francisco fourth.Ī number of other UK cities were listed in the top 20 including Bristol named as 13th most expensive, Manchester 15th and Birmingham 17th. The premium on values for sustainable assets means that even if costs continue to rise, investment is likely to continue to flow into more environmentally-friendly schemes. The Arcadis report comes a day after a separate study by consultancy McKinsey & Company found that that between 40% and 70% of a construction company’s total spending is allocated to procurement, with spending on higher-quality "best in class" procurement having the potential to save the firms over a tenth of their overall costs in the long run.ĭespite the extra cost to construct lower-carbon buildings, sustainable schemes are seen to hold a “green premium” on their value, the Arcadis report said. The annual international construction costs survey found that net zero compliance has added to the costs of delivering new projects, with London, Geneva and New York topping the charts of most expensive cities to build in globally. Global inflation and striving to reach net zero are named as two key reasons for accelerating construction costs, a report by Arcadis has said.
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