The German Intelligence Agency is 'homeless'

Germany's brand new Intelligence Agency HQ is a money black hole. The costs of the building rose by more than 200 million euros and the project is late.

Bundesnachrichtendients, the German intelligence agency is experiencing heavy delays with its huge project. Its new HQ in Berlin was supposed to be finished in 2013 at the cost of just shy above 700 million euros.

Construction delays pushed the finish date with more than half a year and costs are now off the scale. German media reported that latest estimate confirms 920 million euros will not be enough to finish the building. The cost of the 260,000 square meter behemoth will surpass 1 billion reports Der Spiegel.

It is just one of the flagship buildings in Germany that are over the initial budget and have suffered heavy delays. The construction for the Bundesnachrichtendients HQ began in early 2008. The building, set to house the German Intelligence Agency is not certain to be finished this year. Only shy over 150 employees moved into the building out of the 4,000 estimated.