The cost of Christchurch’s new stadium has been finalised at $656,557,018.

The final balance for the construction of the new stadium, which opened in April, came in $26,608,812 under the $683,165,830 approved total project budget, according to a report tabled for Christchurch City Council’s finance and performance committee meeting next week.

The budget was initially $473m, and then increased to $533 million in 2021 to increase the capacity.

The council then approved another increase to the budget to $683m in 2022, with construction starting shortly after. 

Finance and performance chairperson Sam MacDonald said coming in significantly under budget is a fantastic conclusion to the largest infrastructure project ever undertaken by the council.

“The team’s disciplined approach is a great example of Local Government delivering important infrastructure despite market volatility and global uncertainty, particularly post Covid,” MacDonald said.

“Delivering a state-of-the-art, worldclass stadium for Christchurch has been a challenging undertaking. I'm proud everyone involved has worked hard to to keep costs within the agreed budget and on time.

“This is a real credit to the Council’s project team and everyone involved.” 

Mayor Phil Mauger said there’s a real sense of momentum in the city, and this project is a huge part of that.

“It’s already contributing to further investment and development and is a key part of cementing Christchurch as the sporting and cultural capital of New Zealand.

“This underspend is a testament to the hard work of everyone who played a part in bringing this incredible venue to life.”

Around 4,000 people worked on the construction project, delivering 2.4 million work hours - with zero lost time injuries.

Project Governance Board chairperson Barry Bragg said the build was completed around five weeks ahead of schedule which provided ample time for the venue operators to complete system testing and staff training ahead of the first events.