New York, San Francisco and Hong Kong are the world’s most expensive cities to build in, according to the latest International Construction Cost Comparison published by Arcadis
The European cities of Copenhagen and Geneva complete the top five of the International Construction Cost Comparison. The ten least expensive cities for construction are mostly situated in Asia.
Andrew Beard, global head cost and commercial management at Arcadis, said: “In 2019 and beyond, smart investment in three key areas is crucial for the future success of construction companies and the sector in general.
“Firstly, innovation and digitisation present an opportunity for construction companies to increase efficiency, lower costs and increased productivity while improving the end product. Secondly, a strong focus on end-user benefits is necessary. Buildings will increasingly need to be part of the urban mobility ecosystem in order to create value in the long term.
“Finally, constructing and operating buildings has a significant impact on the environment, in terms of water and energy use, carbon emissions and waste. As a consequence, clients are looking to incorporate resiliency and sustainability as part of their business strategy and into buildings.”
|Top 10 most expensive cities||Top 10 least expensive cities|
|1. New York|
2. San Francisco
3. Hong Kong
99. New Delhi
97. Kuala Lumpur
96. Ho Chi Minh
The Arcadis International Construction Cost Comparison of 2019 covers 100 major cities. Apart from providing a comparative indexation of construction costs around the world, the report also provides market insights and recommendations on the factors clients should be considering.