Billion Dollar Wastes that are Specimens of Naivety Top 11

We have always been taught that to execute a project, we need planning estimation and viability.These architectural mammoths are the complete antagonists to these sort of theories.These are epic blunders of gigantic scales,these are wastes of humongous proportions

1.Saint Helena Airport, Longwood, Saint Helena, cost: $347 million (£285m): UK Department of International Development poured in $347 million (£285m) to build an ill-advised hilltop airport on the island of Saint Helena, a remote British territory in the middle of the Atlantic in 2010.The Ill-omened airport fell prey to extreme weather conditions(wind) and is currently unusable.


2.New South China Mall, Dongguan, China, cost: $500 million (£411k): Regarded as the world’s largest shopping center, the New South China Mall opened amidst trumpet-calls in 2005. Completed at a cost of 2.5 billion yuan, or around $500 million (£411k), the 9.6 million square-foot ‘ghost mall’ has toiled big time to attract tenants and customers. A staggering 99% of a total number of stores were still vacant in 2008 and, even now, large sections of the mall remain unoccupied.


3.Russky Bridge, Vladivostok, Russia, cost: $1 billion (£822m)

This bridge in Eastern Russia could easily be labeled the ‘Bridge to Nowhere’. The world’s longest cable stay bridge was specially built in 2012 for an economic summit lasting just two days and cost an eye-popping $1 billion (£822m). Crossing the Eastern Bosphorus Strait, Russky Bridge connects the city of Vladivostok to the island of Russky, which has a population of just 5,000.


4.Ciudad Real Central Airport, Ciudad Real, Spain, cost: $1.2 billion (£1bn)

The airport was constructed in 2009 at a cost of $1.2 billion (£1bn).The airport can handle up to 10 million travelers in a year but only several thousand passed through during its first year of operation. Airlines ended up pulling out, the owner went bankrupt, and the airport ceased operations in 2012.

 


5.Mayawati’s parks and statues, Uttar Pradesh, India, cost: $1.3 billion (£1.1bn)

As the former Chief Minister of Uttar Pradesh(India) spent a colossal $1.3 billion (£1bn) on five parks and hundreds of monumental statues, including scores of white elephants.Regarded as an obscene waste of money in a country which is dealing with poverty.


6.Ryugyong Hotel, Pyongyang, North Korea, cost: $1.3 billion (£1.1bn)

Talking of elephant, since the construction began in 1987, the triangular 105-story tower has swallowed up an equivalent of 2% of North Korea’s entire GDP.It was officially announced as complete in 2012 but remains unfinished, unopened and unused.


7.Olympic Stadium, Montreal, Canada, cost: $1.4 billion (£1.2bn)

The stadium wasn’t even completed at time for the 1976 games, despite its massive price tag, equivalent to $1.4 billion (£1.2bn) in today’s money. the structure was damaged several times and a portion collapsed in 1999. The stadium has managed to have permanent tenant since 2004.


8.Mirabel International Airport, Montreal, Canada, cost: $1.7 billion (£1.4bn)

Mirabel International Airport was built in 1975 as a potential replacement for Dorval Airport at a cost of $370 million (£304m), around $1.7 billion (£1.4bn). The terminal building was demolished in 2012.


9.World Cup stadiums, Brazil: cost: $3 billion (£2.5bn)

A total of 12 stadiums were built at a cost of $3 billion (£2.5bn) for the 2014 World Cup. Only a few years have passed since the tournament yet most of these high maintenance venues remain either empty and underused or have been thoughtlessly repurposed.


10.Palace of the Parliament, Bucharest, Romania, cost: $3.9 billion (£3.2bn)

The pet project of brutal dictator Nicolae Ceaușescu, the gigantic Palace of the Parliament in the Romanian capital Bucharest sprawls over millions of square feet. Thousands of workers died building the structure. Palace of Parliament was eventually finished in 1997 at a total cost of $3.9 billion (£3.2bn) when adjusted for inflation. Today, only 30% of the building is in use and the heating bill alone tops $6 million (£5m) a year.


11.UK navy aircraft carriers, cost: $7.8 billion (£6bn)

The British Navy has commissioned two new aircraft carriers at a combined cost of nearly $7.8 billion (£6bn), more than double original estimates. The first, HMS Queen Elizabeth, launched to much fanfare in 2016. The second, HMS Prince of Wales, is still being built.Both ships are designed to carry 40 US military aircraft but so far only 14 have been ordered, and the cost of those has spiraled too. In addition, equipment cutbacks on the carriers mean these planes cannot carry as many weapons or fly as far as originally intended.

 

So these are my picks of some of the gigantic wastes of Money and concrete.Whats your list?Do write us at:info@factburp.com

About Author

Gaurav bhattacharya

Gaurav Bhattacharya has comprehensive working experience as an Audio Engineer and a Research analyst. He has pursued masters in finance and marketing and has been freelancing since 2012.His passion for varied aspects of Finance, Tech, Travel, and Health is well depicted in his thoroughlyresearched representation of the subject matter. He prefers penning down utility blogs, which are both gripping and informative for the readers.

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