THE cost of fitting out the new Hong Kong Stadium will be about $175 million - more than 50 per cent higher than first estimates.
The Urban Council yesterday rejected a request for an extra $125 million for fitting out the stadium, whose $850 million construction is fully financed by the Royal Hong Kong Jockey Club.
Councillors were unclear as to whether the taxpayer should shoulder the outstanding cost, since the Jockey Club also designed the project and Wembley International, a British based-company, has management rights to the stadium.
Councillors also questioned how and when the council would get the money back.
The Jockey Club's quantity surveyor initially put the fitting out cost at $115 million, and $50 million was advanced in May this year.
At about the same time, a detailed design was finalised according to Wembley's requirements and the quantity surveyor put the cost at $283 million, prompting Wembley to review the plans. By July, the cost was pruned to $160 million.
However, when the fitting out project was put to tender, it became apparent that the price would be at least $200 million.