Construction costs skyrocketing on new Nato HQ

It is hard to miss the massive glass-covered new headquarters of Nato en route to Brussels Airport, but a news report by Germany’s Der Spiegel reveals that the physical size pales in comparison with its increasing cost. Current estimates predict that the construction project across the street from Nato’s current home will surpass a whopping €1 billion.

The ever-bloating investment will prevent contractors from keeping the final costs below the budgeted amount of €1.05 billion. The dilemma is putting pressure on Nato officials to come up with an additional €245 million needed to complete the military alliance’s replacement for its out-of-date HQ.  The project is said to be at least nine months behind schedule.

The construction, to be finished by spring of 2016, was originally contracted to the firm BAM Alliance in 2010 for €456 million.