Construction & CapEx: what it costs to build and when to pay
The construction cost of a medispa resort, shown on a pilot project: what the costs are made of, how direct cost grows into the total funding requirement, what each floor costs, how long construction takes and how payments are spread across quarters.
- Gross building area (GBA)
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- Enclosed GBA (₽/m² basis)
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- Keys
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- Floors
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- Price level
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Part 1 / 12
Bottom line: how much money is needed
The CapEx ladder: from direct costs to the total funding requirement
Each step adds a layer of cost. The dark Σ bars are subtotals — each of them is what one party or another calls “CapEx”.
| # | Step | Amount, RUB m | Running total, RUB m | Running total, ₽/m² | Running total, ₽/key |
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Why CapEx has several values
The same project gives different figures depending on the scope: base or current prices, with or without land, with or without financing costs, within the lender's scope or for the whole project. Compare projects on the same step.
Part 2 / 12
How accurate this figure is
Why the investment-phase cost estimate is usually wrong
At an early stage there are no drawings — only an idea, an area and a programme. An estimate at this stage is not one number but a range, and the range narrows only as the design develops. A wellness and medical resort is harder than an ordinary hotel: pools, thermal areas, medicine and kitchens are expensive and services-intensive, and pre-opening and financing costs are easy to forget.
One price per m² is not an estimate
A square metre of a guestroom, a pool, a kitchen and an imaging room cost very differently. The more spa and medicine, the larger the error of an average price.
Contingency depends on the stage
A small statutory percentage suits a finished design. At the idea stage the uncertainty is several times larger — and it has to be budgeted.
CapEx is more than construction
Furniture and equipment, operating supplies, pre-opening, price escalation and interest during construction are also part of the capital requirement.
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The estimate maturity ladder: from idea to construction documents
International practice divides estimates into five classes by how far the design has developed. Pick a class to see the range in which the actual cost usually falls, contingency included.
Part 3 / 12
What the budget is made of
Budget structure of a medical spa resort
A professional CapEx breakdown from land to financing. Next to it — the pilot project's values (version A, N = 1) where we have them; the share is of the pilot's total capital requirement.
| Item | Owned by | Unit | Amount, RUB m | Share | ₽/m² | ₽/key |
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Pilot values are the sums of its estimate lines allocated to the items of the structure; a range is shown where the lines carry one. "Inside the line above" — the pilot carries this cost as one sum in the parent item. "Not separated in the pilot" — the pilot's estimate has no such line: these are the typical omissions. We do not fill in guessed numbers.
The pilot's budget and international benchmarks
Shares of the total project cost excluding VAT in the five categories used in international hotel development. The benchmark is the range of averages across hotel classes; the pilot shows its own shares (version A, N = 1).
| Category | International benchmark | Typical | Pilot | Pilot against the benchmark |
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Map of cost layers: what is most often missed
The total capital requirement is made up of these layers. Tap a layer to see typical omissions, why they happen and at which stage they are usually caught.
Cost structure
“Construction works” is too broad a term: direct costs split into building contours and resource types, and the all-in cost into classes A–F.
Direct costs by contour
Direct costs by resource type
Share of the all-in cost incl. VAT. Click a class to expand its items.
| Class / item | Amount, RUB m | Share | ₽/m² | ₽/key |
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Part 4 / 12
The pilot estimate under the microscope
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From thousands of estimate lines to a clear budget structure
Every line of the pilot object's estimate is mapped to an item of an international cost structure. Below is the result: where the money sits, how few lines make most of the total, how lines are distributed by size and how accurate the bottom line is. Estimate lines and prices per unit stay in the internal bank: the page shows sums, shares and distributions.
Currency
Which structure it follows
Budget items follow the elemental principle of international cost structures — ICMS 3, RICS NRM 1 and Uniformat II; for Russia the chapters of the summary estimate under Methodology 421/pr sit alongside. Medical equipment is split into the UK supply groups 1–4.
Which estimate class this is
Under the AACE International classification the pilot estimate is class 4: quantities are taken for every zone of the area programme, but there is hardly any building-services design or firm contractor quotes. So the bottom line is a range, not one number.
Why a detailed estimate is not yet accurate
Thousands of lines feel precise, but quantities come from typical room profiles, not from drawings. The main risk is not in the small lines but in the items the estimate does not have at all. Why estimates go wrong →
Budget map: layer → item → sub-item
Tile area is the item's amount. Click a tile to drill one level down; the path above takes you back. On the right — the item card: amount, share, per m² and per key, number of estimate lines and resource kinds.
Table instead of the chart
| Item | Amount | Share | Estimate lines |
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The Pareto rule: a few items and lines decide everything
Left: budget items by descending amount with the cumulative share of the total capital requirement. Right: the same for estimate lines — what share of lines makes what share of direct cost. Check and negotiate where the money is concentrated.
The dashed diagonal is what equal lines would give. The more the curve bows upwards, the more money sits in a few large lines.
What lines the estimate is made of
Estimate lines by amount on a log scale: top — how many lines fall in each interval, bottom — what share of direct cost they make. Small lines number in the thousands, but the money is in the right tail.
Direct cost by floor and resource kind
Project-wide costs — frame, facade, excavation, main service runs, site — are not tied to floors in the estimate and are shown as a separate row.
Zone costs by room type
What the figures rest on
This mix sets the estimate class: the larger the share of firm quotes, the narrower the range.
Units the lines are measured in
From direct cost to the total requirement — with the uncertainty band
Each step adds a cost layer; on the Σ subtotals — the range in which the actual cost usually lands for an estimate of this class: the dark band is the narrow bound, the light one the wide bound.
The pilot against international unit costs
The pilot's building cost per m² of closed area — direct cost without FF&E and equipment, land and owner's costs — against new-build ranges by facility type in US dollars (from the part «Cost by facility type and country»).
Part 5 / 12
Where the money physically goes
Floors: areas and cost
Where each function sits in the building and what a square metre of each floor costs — with and without project-level costs (plant, utilities, facade, lifts, etc.).
Floor × function matrix, m²
Cost by floor, ₽/m²
Part 6 / 12
When to pay
Construction programme (Gantt chart)
Phases and work packages of the pilot project by month. Critical-path tasks are in red — any delay to them moves the opening date.
Spend and funding schedule
Quarterly spend by cost class, the cumulative S-curve and the peak quarterly funding need. Both schedules share the same scale.
Same money, different schedule
The budget is the same, yet the peak quarterly funding need differs: the schedule drives the credit-line limit, interest during construction and the equity needed at the start.
Cumulative spend, % of budget
Part 7 / 12
Who is responsible and under which standards
Who owns what in the estimate
Every budget line needs an owner. The architect sets the areas and the envelope, the interior designer the finishes and furnishings, the builder and engineers the structure and systems, the operator everything needed to open. The gaps between roles are where the main omissions sit.
Standards and norms behind this section
Estimate classes, cost structure, contingency, optimism bias and medical equipment groups follow international standards. The mapping of the structure to the standards' codes is ours.
Cost structure crosswalk
One budget item in different coding systems: the international cost structures and the platform classifier A–F. The mapping is ours; codes of the sub-items are in the budget structure above.
Part 8 / 12
Construction cost trends by country
Construction cost indices rebased to a common year
Official national statistics: a construction cost or price index rebased to one base year, and the average annual growth over 5 and 10 years — the escalation a budget needs between the estimate and the payment.
The index series are still being loaded — no data yet.
Click a country in the table to add it to the chart (up to 8).
| Latest value |
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National indices measure different things — residential construction costs, non-residential or healthcare building prices: compare growth rates, not levels. Open data licences
Part 9 / 12
Cost by facility type and country
Unit cost of new construction by facility type
Ranges in US dollars per m² of gross floor area from open government unit-cost guides (public domain), adjusted to the country of construction. This is the cost of the building without land, furniture and equipment (FF&E) and owner's costs.
Reference unit costs are still being loaded — no data yet.
Location factor (US = 1.00)
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| Facility type | In the selected country, $/m² | Median | Range | US average, $/m² | Points |
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The guides reflect public-sector projects with their requirements and do not reflect the hotel class: for a 4–5★ resort and a medical block, compare with your own contractor quotes. Russia is not covered.
Part 10 / 12
Quick project estimate
CapEx estimator: a range by top-level budget items
A class 5–4 screening estimate: area programme × unit cost by facility type × country adjustment, plus budget-structure shares, a contingency by estimate class and escalation to the start year. Every assumption is shown alongside; replace those marked «example» with your own.
Part 11 / 12
Downloads
Working files for the investment phase
Files are generated on request from the same data as the page. Every download gets its own ID and a source line (Terms of Use, section 4).
Investment-phase omissions checklist
Typical estimate omissions: why they happen, what they lead to, at which estimate class they are usually caught, whose area they are and which budget item they belong to. The «checked» and «comment» columns are for your team.
Budget structure template (118 items)
The CapEx tree with the codes of the international structures and the classifier A–F, the pilot shares and columns for the architect, the interior designer, the builder and the operator. Upper-level amounts add up automatically.
Part 12 / 12
Glossary RU ↔ EN
Cost-estimating and development terms used on this page, with their international equivalent and a short neutral definition.
Pilot project (version A), N = 1: a concept-stage estimate for a single project — a reference point for concept design and financial modelling, not a cost estimate, design documentation or an offer. Ranges and comparisons will follow as more projects are added.
Knowledge base materials are for information only and are not medical advice, an individual investment recommendation or an offer. Contraindications apply. Consult a specialist. See the Disclaimer.