A review on the economics of underground space utilization

The necessity for modern cities to develop efficient infrastructure continues to bring forth the options for a systematic utilization of the subsurface space. Nevertheless, the economics of underground space utilization are a key parameter for the adoption of such kind of functions and infrastructure over traditional surface solutions. The paper attempts to enlighten the current trends of the modern underground industry and, furthermore, reviews the construction cost levels for various infrastructure types. Finally, since an important part of the economic benefits of underground structures are latent and are associated with social and environmental externalities, the paper analyzes the principles of environmental economics and presents case examples where such benefits are expressed in monetary terms.