Going for gold
When the Olympics comes to town, it’s not just the athletes going through their paces. Years before the torch touches down, the backhoes come to town to create a city fit for the world’s sporting elite. As the first week of the London Olympics draws to a close, The Big Project takes a look at […]
When the Olympics comes to town, it’s not just the athletes going through their paces. Years before the torch touches down, the backhoes come to town to create a city fit for the world’s sporting elite. As the first week of the London Olympics draws to a close, The Big Project takes a look at the budgets and facts behind the last five games
London
The Olympic Park and Orbit Tower.
Initial budget: £9.3bn, public funding
Final cost: The BBC reports that “£476m of the contingency funding left, according to new government figures.”
Interesting fact: Over the duration of the 120 construction projects required for the London Olympics, only one dispute was lodged, which was resolved without going to court.
It’s a very different result to the one the construction industry and media were both poised for considering the Wembley Stadium project fiasco, which hit financing problems within its first 12 months and faced major delays.
During the project British broadsheet The Guardian reported that contractor Multiplex was fined £120,000 for every day the project was delayed beyond handover, with the reasons for delay ranging from contract disputes to the wrong concrete being poured into the foundations.
An analysis of the reasons why and how Qatar can avoid the same problems will feature in the new look Big Project Middle East, in September.
