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Cost of Tokyo 2020 gymnastics venue soars as contract is awarded

The construction cost of a new gymnastics arena for the Tokyo 2020 Olympic and Paralympic Games has more than doubled after Shimzu Corp was awarded a Y20.5bn (€175.1m/$187.8m) contract to build the facility.

Japanese news agency Kyodo reported that the Tokyo 2020 organising committee had initially set aside Y8.9bn for the construction of the venue. However, that figure did not include the designing fee, which was accounted for in Shimzu’s bid.

Construction work is scheduled to begin next winter, with a planned completion date set for October 2019. The temporary arena will have a capacity of 12,000.

Kyodo’s report added that the Tokyo 2020 organising committee and the Tokyo metropolitan government, which will share the expenditure for the venue, would discuss the costing model.

Games organisers attributed the cost hike to raises in construction-related prices, as well as a need to strengthen the facility’s earthquake resistance.

Kajima Corp also submitted a bid of Y24.1bn for the contract, but organisers said that Shimzu’s bid was chosen due to the prices tendered, its demolition process plan and other design-based proposals.