The Government dismisses an academic's suggestions that the Tamar development project's estimated unit construction cost is higher than that for the International Finance Centre Two.

It deems such statements wrong and misleading, noting the comparison fails to take into account the fact the project covers not just construction of the Legislative Council Complex and the Central Government Complex. It also covers a two-hectare open space, drainage and related works in the open space and two covered pedestrian footbridges.

The latter items should not be counted in the unit construction cost, the Government says, adding one should not assume the contingency provision for the entire project would necessarily be spent on building works.

Tamar to cost about $11.6k/sq m

As explained in the paper for the Public Works Subcommittee, the estimated unit-construction cost for the Tamar development project - around $11,600 a square metre -  is lower than the market comparator for Grade A office buildings, which is about $13,000 a square metre.

When quoting the market benchmark, the Government drew reference to the regular professional surveying updates published by Levitt & Bailey and Davis Langdon & Seah.

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