A hospital in ADELAIDE is one of the world's most expensive buildings ahead of The Shard in London, the Burj Khalifa in Dubai... and just behind New York's One World Trade Centre
- Royal Adelaide Hospital third on a list of the world's expensive buildings
- It was beaten only by New York's One World Trade Centre and the Palace of Parliament in Bucharest, Romania
- The revamped hospital, currently under construction, will cost $2.7 billion
By Sarah Michael for Daily Mail Australia
Published: 16:50 EST, 19 March 2015 | Updated: 02:20 EST, 20 March 2015
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An Adelaide hospital has been named the third most expensive building in the world, putting it ahead of glitzy skyscrapers in Dubai, London and Singapore.
The Royal Adelaide Hospital was named on a list of the world's most expensive buildings compiled by building data company Emporis, beaten only by New York's One World Trade Centre and the Palace of Parliament in Bucharest, Romania.
The revamped hospital, which is currently under construction, will cost a staggering $US2.1 billion ($A2.7 billion) compared with the One World Trade Centre which cost $US3.9 billion ($A5.04 billion) to build and the Palace of Parliament which cost $US3 billion ($A3.9 billion).
The New Royal Adelaide Hospital was named on a list of the world's most expensive buildings
The revamped hospital, currently under construction, will cost a staggering $US2.1 billion ($A2.7 billion)
The South Australian government said the State Budget would need to account for an extra $177 million in funding for the hospital in December last year
The 800-bed hospital due to open in April 2016 but an independent review has concluded the project won't be finished until the second half of that year
The top 10 was rounded out by Las Vegas resort The Palazzo and London's The Shard, both at $US1.9 billion, the Taipei 101 at $US1.76 billion, Dubai's Burj Khalifa (the tallest building in the world) at $US1.5 billion, Singapore's CapitaGreen at $US1.5 billion, Kyoto Station at $US1.25 billion and Hamburg's Elbphilharmonie at $US1.03 billion.
Another Adelaide building - Myer Centre – was the next Australian construction on the list at number 13, costing $US1 billion.
The next most expensive Australian buildings were Sydney's Chifley Tower at number 16, costing $US1 billion, and Sydney's ANZ Bank Centre, costing $US800 billion.
The list has been adjusted to take currency movements into account and considers both buildings under construction and existing buildings that were built after 1976.
Construction economics expert Timothy O'Leary said the Royal Adelaide Hospital would be the most expensive building ever built in South Australia.
Return of the Lower Manhattan skyline: WTC 1 time-lapse
The world's most expensive building is the One World Trade Centre in New York which cost $A5.04 billion
Second on the list was Romania's Palace of Parliament which cost $US3 billion ($A3.9 billion)
THE TEN MOST EXPENSIVE BUILDINGS AROUND THE WORLD
1. One World Trade Center, New York City - completed in 2014 for $US3.9 billion
2. Palace of the Parliament, Bucharest - completed in 1988 $US3 billion
3. Royal Adelaide Hospital, Adelaide - completed by 2016 for $US2.1 billion
4. The Palazzo, Las Vegas - completed in 2007 $US1.9 billion
5. The Shard, London - completed in 2013 for $US1.9 billion
6. Taipei 101, Taipei - completed in 2004 for $US1.76 billion
7. Burj Khalifa, Dubai - completed in 2010 for $US1.5 billion
8. CapitaGreen, Singapore - completed in 2014 for $US1.4 billion
9. Kyoto Station, Kyoto - completed in 1997 for $US1.25 billion
10. Elbphilharmonie, Hamburg - completed by 2016 for $US1.03 billion
'And it's the type of building that costs a lot of money – it's a number one hospital that will service the health needs of the state for decades to come,' said Mr O'Leary, from the University of South Australia.
'It's certainly a big deal for Adelaide because it's being funded by taxpayers.'
Mr O'Leary said it was difficult to assess costs of the project and how they would pay off in future.
'There's no way to know if it's value for money without comparing it to other similar projects,' he said.
'Probably what's missing from that list is there must be other big hospital projects in the pipeline around the world that are quite expensive.'
'The list does not seem to be comprehensive, as similarly priced hospitals such as the Gold Coast Hospital in Queensland and the Fiona Stanley Hospital in Western Australia have been omitted, as have other high profile buildings from around the world, such as the Westfield London shopping centre (cost approx. $3bn),' said a statement from South Australian Health.
'Upon completion the new Royal Adelaide Hospital will deliver state of the art care in one of the most advanced hospitals in the world,' the statement said.
Other recently built Australian hospitals missing from the list include the Fiona Stanley in Perth, which opened in 2014 and cost $A2 billion and the Gold Coast University Hospital which opened in 2013 and cost $A1.76 billion.
On Wednesday the former Gold Coast University Hospital project director was appointed temporary manager of the Adelaide project after program director Andrew Nielsen stepped down.
This comes after the South Australian government said the State Budget would need to account for an extra $177 million in funding in December last year.
The Palazzo - a luxury resort on the casino strip in Las Vegas - was completed in 2007 and cost $US1.9 billion
The Shard skyscraper in London was completed in 2013 for $US1.9 billion
The 800-bed hospital due to open in April 2016 but an independent review has concluded the project won't be finished until the second half of that year.
Mr O'Leary said cost blowouts were to be expected on any large project.
'Any billion dollar construction project is an extremely complex undertaking,' he said.
'Original estimates and budgets tend to blow out because of the complexity.'
The Shard: Amazing 360 degree views of the City of London
Dubai's Burj Khalifa is the tallest building in the world and cost $US1.5 billion to build
Another Adelaide building - Myer Centre – was the next Australian construction on the list at number 13
The next most expensive Australian buildings were Sydney's Chifley Tower at number 16, costing $US1 billion, and Sydney's ANZ Bank Centre (pictured), costing $US800 billion
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