Construction on the "University Plaza Building One" was completed on February 27 and it now houses Otago University's new Unipol recreation facility and its foundation studies programme.
Property Services Director Mr Barry MacKay said the $4.4 million in savings mainly came from a contingency fund set aside to manage the "significant risks" associated with the project.
These risks included a tight construction timeframe and issues over the shared wall with Forsyth Barr Stadium. In the PricewaterhouseCoopers review of stadium costs it was revealed the Dunedin City Council paid $900,000 (or half) of the shared wall.
"Prudent management, mitigation and elimination of the risk has meant that the $4.4 million saving came mainly from this fund," Mr MacKay said.
The university was happy with the completed project, which is to be officially opened by former vice-chancellor Prof Sir David Skegg on July 10, he said.
"It is an innovatively designed structure that incorporates world-class recreation and academic facilities."
The building added an "attractive bookend" to the university's eastern precinct which was of "strategic importance" to the university for future development, he said.
"Student visits to the new Unipol recreation facility are up on last year's numbers and the feedback to date is very positive."
Final account negotiations were still ongoing for the project.
