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SBD Global/April 19, 2013/Facilities

Renovation Of Munich's Olympic Park Estimated To Cost More Than $612M

The "forecast for the renovation costs of Munich's Olympic Park has reached a new high" with an estimated €469M ($612M), according to Thomas Schmidt of MERKUR ONLINE. It "already has been known that the renovation costs will be in the hundreds of millions." New estimates of the city suggest that "it is getting close to half-a-billion." The renovation of the park's old buildings will cost an estimated €469M and is scheduled to be completed by 2032. The new number is €71M ($93M) higher than a previous estimate last year. The reason for the increased costs are two "worst-case scenarios" that have been included in the numbers. The two scenarios are a "complete overhaul" of the Olympic Stadium and an extensive renovation of the old Ice Sport Center. However, "both measures have not been confirmed" (MERKUR ONLINE, 4/18).
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