Courtesy LOCOG London Olympic Games officials kept within budget established in 2007, officials say. With construction work at an end and just a few weeks before the 27 July opening ceremony of the London 2012 Olympic and Paralympic Games, the U.K. government published the latest accounting for venues and infrastructure costs. The report shows a saving of nearly 5% below baseline estimates made five years ago.The final cost for work by the Olympic Delivery Authority, charged with procuring the venues and infrastructure, is now $10.5 billion. According to the Dept. of Culture Media and Sport, $740 million of contingencies remain
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.