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Cost explosion in Hamburg's energy networks: construction projects are millions more expensive!
Bramfeld sees dramatic increases in construction costs for Hamburg energy network projects. The reasons are geopolitical conflicts and increased material prices.
Cost explosion in Hamburg's energy networks: construction projects are millions more expensive!
There is currently a heated debate in Hamburg about rising construction costs, especially for Hamburg energy network projects. Again star reported that the costs for three central construction projects at the company headquarters in Bramfeld are increasing drastically. Total expenses shot up from 53.6 million euros to 71.3 million euros, which corresponds to an increase of around a third.
The projects affected include a new entrance pavilion, a parking garage and a multi-purpose building. While the entrance pavilion increases from 2.6 million euros to 4.3 million euros - 65 percent more - the multi-purpose building and the parking garage also see significant cost increases. The latter climbs from €14.7 million to €20.4 million (38%), while the multi-purpose building rises from €36.3 million to €46.6 million (28%).
Causes of the cost explosion
The reasons for these exorbitant cost increases are diverse. In addition to the ongoing effects of the war in Ukraine and the resulting material shortages, there are also higher demands on construction methods. Green building requirements, such as the installation of green roofs and photovoltaic systems, further increase costs. The NDR highlights that the total additional costs amount to around 17.7 million euros, which represents a serious problem for project management.
The Hamburg energy networks have announced that they will create more transparency in cost control in the future. The chairman of the supervisory board, Alexander von Vogel, emphasized this in a statement. However, under pressure from the taxpayers' association and the political opposition, which describes the additional costs as unbearable, people are skeptical about the previous planning and control mechanisms. The CDU parliamentary group criticizes inadequate planning and control, while an AfD representative calls for comprehensive clarification by the Senate.
Market developments and future challenges
The problem in Hamburg is part of a larger trend in the construction industry. According to an analysis by PwC Demand for construction projects remains high despite increased raw material prices and geopolitical uncertainties. Many building contractors report that clients have put their projects on hold due to price uncertainty and interest rate trends. The Ukraine war plays a crucial role here, as the sanctions against Russia and the subsequent price increases have a significant impact on the market situation.
While some projects are stalling, experts expect an increase in catch-up investments in the medium term, particularly in commercial and residential construction. It remains exciting to see how Hamburg's energy networks and other construction projects will fare in this uncertain environment.