Geneva emerges as world’s most expensive city for construction
Real Estate

Geneva emerges as world’s most expensive city for construction

Switzerland’s Geneva has emerged as the world’s most expensive city for construction, according to a report by Netherland’s based consultancy firm Arcadis.

The report stated that Geneva is the most expensive city for construction. A year back, London topped the list of most expensive cities in the world for construction. Others on the list are Europe, Copenhagen, Denmark, Oslo in Norway, and Switzerland's Zurich.

Due to the reason European cities occupy the top five positions this year, the American cities are facing a decline in the value of the dollar.

According to most of the reports, interestingly the prices have not fallen despite the pandemic. The report says, "In the past years when the demand for construction was low, the prices were sharply fallen. Even due to the decline of the economy in the last year, the construction prices didn't fall.

In 2020, New York was in the second position, now it has fallen to the sixth position, and San Francisco from sixth to seventh. Hong Kong in the eighth position, Dublin, Ireland in ninth, and Macau in China receiving the tenth position. The most expensive cities of Australia were Auckland, Christchurch, and Sydney. The Middle East's expensive city was Riyadh which is in 40th position, South Africa's most expensive city is Johannesburg, ranked 92th in total.

The reports also say that the construction business was the best among all during the Covid-19 pandemic. It has also said that the positive outlook of constructions in the year 2021 is underpinned by a large number of public investments. The government sees that the contribution of construction towards the country's economy is greater by providing jobs and creating a support system in the domestic industry.

Image Source

Switzerland’s Geneva has emerged as the world’s most expensive city for construction, according to a report by Netherland’s based consultancy firm Arcadis. The report stated that Geneva is the most expensive city for construction. A year back, London topped the list of most expensive cities in the world for construction. Others on the list are Europe, Copenhagen, Denmark, Oslo in Norway, and Switzerland's Zurich. Due to the reason European cities occupy the top five positions this year, the American cities are facing a decline in the value of the dollar. According to most of the reports, interestingly the prices have not fallen despite the pandemic. The report says, In the past years when the demand for construction was low, the prices were sharply fallen. Even due to the decline of the economy in the last year, the construction prices didn't fall. In 2020, New York was in the second position, now it has fallen to the sixth position, and San Francisco from sixth to seventh. Hong Kong in the eighth position, Dublin, Ireland in ninth, and Macau in China receiving the tenth position. The most expensive cities of Australia were Auckland, Christchurch, and Sydney. The Middle East's expensive city was Riyadh which is in 40th position, South Africa's most expensive city is Johannesburg, ranked 92th in total. The reports also say that the construction business was the best among all during the Covid-19 pandemic. It has also said that the positive outlook of constructions in the year 2021 is underpinned by a large number of public investments. The government sees that the contribution of construction towards the country's economy is greater by providing jobs and creating a support system in the domestic industry. Image Source

Next Story
Infrastructure Energy

Adani Green Adds 212.5 MW Solar in Gujarat

Adani Green Energy Ltd. has commissioned a 212.5 MW solar power project at Khavda, Gujarat, through its subsidiary Adani Renewable Energy Fifty Seven Ltd. This addition brings Adani Green's total operational renewable capacity to 13,700 MW, as per a stock exchange filing. Last month, Adani Green became India's first renewable energy company to cross 12,000 MW of operational capacity. The company is also developing the world's largest 30,000 MW renewable energy plant in Khavda, spanning 538 sq km—about five times the size of Paris and nearly as large as Mumbai. Upon completion, it will be th..

Next Story
Infrastructure Energy

ONGC NTPC Green Acquires Ayana for Rs 62.5 Billion

ONGC NTPC Green Pvt Ltd (ONGPL) has completed the Rs 62.5 billion acquisition of Ayana Renewable Power, securing a 100% equity stake. The 50:50 joint venture between NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd finalized the deal. NGEL contributed Rs 31.2 billion toward the acquisition, aligning with its goal to achieve 60 GW of renewable capacity by 2032. Ayana, a key player in India's green energy sector, has a 4,112 MW portfolio, with 2,123 MW operational and 1,989 MW under construction. Its projects are backed by high-credit-rated buyers, including SECI, NTPC, GUVNL, and Indian Railw..

Next Story
Infrastructure Transport

Cabinet Approves Rs 37.1 Billion Patna-Sasaram Corridor

The Union Cabinet has approved the construction of a four-lane access-controlled Patna-Sasaram corridor in Bihar at an estimated cost of Rs 37.1 billion. The 120.1 km project, to be developed under the Hybrid Annuity Mode (HAM), aims to ease congestion and enhance connectivity. Currently, travel between Sasaram, Arrah, and Patna takes 3-4 hours due to heavy traffic on state highways. The new corridor will integrate greenfield and 10.6 km of brownfield upgrades, linking key cities such as Arrah, Grahini, Piro, Bikramganj, Mokar, and Sasaram. The project will connect NH-19, NH-319, NH-922, NH-..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?