Apple’s New Office Construction May Cost $5 Billion; $2 Billion More than Initial Budget

Apple Campus 2

Apple wanted to build an office space that will be the most advanced and most expensive office space ever built on the planet. However, the space, also known as Apple Campus 2, is likely to cost Apple more than it had initially imagined.

Bloomberg Businessweek reported that the budget of the construction has failed by $2 billion. Steve Jobs announced that the spaceship-like campus will need $3 billion to develop. But now, the budget has been increased to $5 billion making it even more expensive than the World Trade Center complex that is currently under construction.

The project’s estimated date of completion was 2015. But the increased budget has pushed the date back to 2016. Architects are now busy looking for ways to cut the cost by at least a billion dollar.

In case you didn’t know, Campus 2 was announced by Steve Jobs back in 2011. If completed, it will be the most expensive, most advanced and high tech office complex ever with 700,000 square feet of solar panels generating the power required for the complex. Apple is also working for wind-generated power as the 8 megawatts of power that all those solar panels will generate is not going to be enough.

With all the high tech blueprint for Campus 2, it’s understandable why the budget has failed. But we still don’t know for sure as Bloomberg cited unnamed sources and Apple did not comment on the matter yet. However, perhaps it doesn’t really matter considering the fact that Apple won’t have a problem even if it required more than $5 billion to complete the world’s most expensive and most high tech office facility ever.

What do you think about Apple’s underconstruction office complex? Waste of money?

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