The cost of Christchurch’s new stadium has been finalised at $656,557,018 – more than $26 million under the approved total project budget.
The final balance for the construction of the new stadium, which opened in April, has been detailed in a report set to go to Christchurch City Council’s Finance and Performance Committee meeting next week.
The Council approved the budget of $683 million for a multi-use arena on 14 July 2022, with construction starting shortly after.
Chair of Finance and Performance, Sam MacDonald says coming in significantly under budget is a “fantastic conclusion” to the largest infrastructure project ever undertaken by the Council.
“The teams disciplined approach is a great example of Local Government delivering important infrastructure despite market volatility and global uncertainty, particularly post Covid,” said Mr MacDonald.
“Delivering a state-of-the-art, worldclass stadium for Christchurch has been a challenging undertaking. I’m proud everyone involved has worked hard to to keep costs within the agreed budget and on time.
“This is a real credit to the Council’s project team and everyone involved.”
Mayor, Phil Mauger says there’s a real sense of momentum in the city, and this project is a huge part of that.
“It’s already contributing to further investment and development and is a key part of cementing Christchurch as the sporting and cultural capital of New Zealand. This underspend is a testament to the hard work of everyone who played a part in bringing this incredible venue to life,” he said.
Leading builder, BESIX Watpac, was appointed as the lead contractor for the Te Kaha Project under a design and construct contract.
“When the contract was signed back in 2022, the world was grappling with the impacts of the pandemic and emerging conflicts in Europe. The design and construct approach helped protect us against cost escalations and provide some certainty at the outset,” said Council General Manager of Citizens and Community, Andrew Rutledge.
“Additionally, one of the key financial risks was that the local market wouldn’t be able to meet the demands of such a large and complex project. BESIX Watpac and their subcontractors did an incredible job resourcing the project and keeping the various workstreams on schedule,” he said.
Around 4,000 people worked on the construction project, delivering 2.4 million work hours with zero lost time injuries. The majority of the contracts were awarded to local companies which has had a genuine positive impact on the local economy.
“The stadium build was completed around five weeks ahead of schedule which provided ample time for the venue operators to complete system testing and staff training ahead of the first events,” says Project Governance Board Chair, Barry Bragg.
