The European Central Bank said the cost of its new Frankfurt headquarters will jump by as much as 41 percent due to higher prices for construction materials and “a number of unforeseen challenges.”
The 185-meter twin-towered skyscraper will now cost as much as 1.2 billion euros ($1.6 billion), up to 350 million euros more than the initial price of 850 million euros, the ECB said in a statement yesterday. The central bank’s relocation to the new premises remains scheduled for 2014, it said. Previously, the ECB said it would move into its new headquarters in early 2014, with construction due for completion at the end of 2013…article
