WTC Is the World’s New Most Expensive Tower: $3.8 Billion

Rebuilding the imposing World Trade Center site is apparently a very time and money consuming task. The construction process has already reached a staggering $3.8 billion, and the project is far from being complete. Port Authority of New York and New Jersey, the authority who builds the towers, has only managed to erect the first 90 floors of one of the WTC towers.

Event though the skyscraper is still under construction, it is already the most expensive office tower in the world, according to specialists in the field. The figure is $700 million higher than the latest public estimate, which has obviously led to several political controversies. This increase in costs has led to smaller investments in the transportation infrastructure, and higher tunnel and bridge tolls.

Apparently the reason for these escalating costs is mainly the fact that the towers need super advanced security systems. When the project was first proposed, specialists estimated it to require $2 billion, and the most recent public estimate, made in 2008, was of $3.1 billion. By comparison, the world’s tallest skyscraper, the Burj Khalifa tower in Dubai, cost only $1.5 billion.

WTC Is the World’s New Most Expensive Tower: $3.8 Billion

By : 15 Feb 2012
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