The construction industry is one of the most important sectors of the economy in the UK and on the European continent. While tens of thousands are of small construction sites, Europe also sees a number of significant mega-projects completed each year. These are huge construction developments, such as skyscrapers, power plants or hospitals, which cost several million or even several billion Euros. Construction projects of this kind will be completed all over Europe in the coming year. In this article, we present the most important, most expensive and largest mega constructions in Europe, which are scheduled to open in 2023.

Mega project construction site

Ambitions defy the crisis

With the Covid-19 pandemic, the whole world, and with it Europe, switched into crisis mode. With some delay, the economic effects soon became apparent, hitting the construction industry hard. With supply chain delays and the war in Ukraine, the situation went from the frying pan into the fire. Building materials became scarce, energy got more expensive, interest rates on borrowed capital rose, investors bailed out and demand collapsed within a few months. Numerous construction projects in Europe were postponed or even cancelled as a result.

However, the situation could have been much worse. Considering the surrounding circumstances, the construction industry in most European countries is holding up surprisingly well. New projects are still being started and completed. The completion of numerous mega-buildings is also planned for 2023. So, Europe’s economy and construction industry are undoubtedly in crisis. But even in these difficult times, Europe remains strong and proves that cross-sectoral cohesion, thorough planning and clearly defined construction policies are paying off.

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Top 5 largest construction projects in Europe

There are numerous major construction sites in Europe, some of which are scheduled for completion in the coming year. In this article, we focus on various construction projects planned for 2023 in different countries in Europe and in different categories. However, we do not only take a look at the price, but also at the type of project and explain it in more detail. We sort the projects in ascending order based on the total estimated construction costs. Construction is a constantly changing industry that has to react in a flexible way to new circumstances. We therefore have to rely on estimates and forecasts as far as the time of completion and the total costs are concerned.

1. Evora Public Central Hospital – 204 m €

Name: Evora Public Central Hospital
Location: Evora, Portugal
Description: Public hospital – newly construction
Cost: 204 million €
Start of construction:  Third quarter 2019
Planned completion: Fourth quarter 2023

The Evora Public Central Hospital is a hospital under construction in the Portuguese city of Evora. The new hospital is expected to replace the existing, congested and outdated Hospital do Espírito Santo by the fourth quarter of 2023. Construction of the Evora Public Central Hospital began in the third quarter of 2019 and the total cost is currently estimated at Building materials became scarce. This makes the Evora Public Hospital the most expensive newly built hospital in Europe, which is scheduled for completion in 2023. Other hospitals under construction with comparable or even higher price tags are the expansion of Plejecenter Dagmargarden Hospital in Denmark for 106 million Euro, the reconstruction of the Hospital of Cattinara in Italy for 175 million Euro and the new construction of the Nantes New CHU Hospital in France for 1.381 million Euro. The Nantes New CHU Hospital is currently the most expensive hospital under construction in Europe. However, all these projects will only be completed after 2023.

2. Edge East Side Tower – 400 m €

Name: Edge East Side Tower
Location: Berlin, Germany
Description: High-rise – new construction
Cost: 400 million €
Start of construction: Fourth quarter 2019
Planned completion: Third quarter 2023

The Edge East Side Tower is the most expensive construction project scheduled for completion in Germany in 2023. With 26 storeys spread over 140 metres, the East Side Tower will not be a gigantic skyscraper compared to buildings in Asian or American metropolises. Nevertheless, it will stand out when looking at the Berlin skyline as one of the tallest buildings in the German capital. Construction of the Edge East Side Tower in Berlin began in the fourth quarter of 2019, with completion scheduled for the third quarter of 2023. The four-year construction phase is estimated to cost the equivalent of around 400 million Euro. Project developer and first builder was the Dutch OVG Real Estate. Even before construction began, the project was sold to a joint venture of Universal-Investment and Allianz Real Estate. The topping-out ceremony took place in October of the current year. After completion at the end of 2023, there will be 26,000 square metres of usable space, a large part of which Amazon has already secured. 

3. Baltic Offshore Pipeline – 2,425 m €

Name: Baltic Offshore Pipeline – New construction
Location: Baltic Sea
Description: Gas pipeline between Poland and Denmark
Cost: 2,500 million €
Start of construction: First quarter 2021
Planned completion: Fourth quarter 2022 to first quarter 2023

The Baltic Offshore Pipeline is an additional pipeline to be built in the Baltic Sea. The Baltic Offshore Pipeline will connect Rodvig in Denmark with Niechorze in Poland. Construction started at the beginning of 2021 and was planned to be completed by 2022. Considering the current geopolitical situation in Eastern Europe and the incidents surrounding the Nord Stream pipeline in the Baltic Sea, the final completion and commissioning could be postponed to 2023. It remains to be seen whether the construction costs of an estimated 2.425 million Euro will therefore also increase significantly. As a matter of fact, the benefits of a direct pipeline between Poland and Denmark will be great. At the time of planning and the start of construction, however, it was not yet possible to foresee how drastically the situation in Ukraine would develop and what influence this would have on the price of gas. As things stand, however, not putting the Baltic Offshore Pipeline into operation is not an option for the operators at the moment.

4. Flamanville 3 – 12,700 m €

Name: Centrale Nucléaire de Flamanville 3
Location: Flamanville, France
Description: Nuclear power plant – construction of a new unit
Cost: 12.700 million €
Start of construction: Second quarter 2007
Planned completion: First to fourth quarter 2023

The Centrale Nucléaire de Flamanville is a nuclear power plant near the town of Flamanville, in the Normandy region of northern France. The first two units of the Flamanville nuclear power plant have been in operation since the mid-1980s and are scheduled to remain on the grid until 2036 and 2037 respectively. Since 2007, however, a new, third unit has been under construction. Originally, Flamanville 3 was to be completed in 2012. However, there were numerous delays, which drove up construction costs and pushed the planned completion further and further into the future. Reasons for delays included financing problems, administrative hurdles, disagreements between the various parties involved, a non-functioning reactor control system, leaking welds, low-quality construction materials, alarming anomalies in the design of the pressurized reactor and safety hazards in the construction process. As of November 2022, completion should take place during 2023. Whether this will actually happen is doubted by some. Certain political parties and groups are calling for the demolition of the construction site. Currently, the total construction costs are estimated at the equivalent of about 12.700 million Euro.

5 Crossrail – 23,280 m €

Name: Crossrail
Location: London, United Kingdom
Description: Rail project
Cost: 23,280 million €
Start of construction: Second quarter 2009
Planned completion: Tunnel already opened in 2022, overall project planned for  fourth quarter 2023 planned for the fourth quarter of 2023

The Crossrail railway project is the largest and most expensive construction project in Europe. Crossrail is also known as the Elizabeth Line, which is the name of the new 41-stop metro link made possible by the Crossrail project. The Elizabeth Line was already launched and put into operation this year and can now transport up to 200 million people per year. However, the project is not yet fully implemented. The completion of the entire project is currently scheduled for the end of 2023 – about four years after the planned completion. In total, Crossrail is expected to cost around 23,280 million Euro.

Overview

House Price Location House Price Location
Evora Public Central Hospital Evora, Portugal Public hospital – new construction 204 million Euro Third quarter 2019 Fourth quarter 2023
Edge East Side Tower Berlin, Germany High-rise – new construction 400 million Euro Fourth quarter 2019 Third quarter 2023
Baltic Offshore Pipeline Baltic Sea Gas pipeline between Poland and Denmark 2,425 Euro First quarter 2021 Fourth quarter 2022 to first quarter 2023
Flamanville 3 Flamanville, France Nuclear power plant – construction of a new unit 12,700 million Euro Second quarter 2007 First to fourth quarter 2023
Crossrail London, United Kingdom Rail project 23,280 million Euro Second quarter 2009 Tunnel already opened in 2022, overall project planned for the fourth quarter of 2023

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