The value of Russia construction market is forecasted by GlobalData to decline by 4.2% in real terms in 2024, having grown by 3.5% in 2023. A key growth market will be the infrastructure market, with output dropping by 1.3% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market, buy the latest profiles here.
Here are the five largest construction projects initiated in Russia during Q3 2024, according to GlobalData’s construction projects database.
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1. Cherepovets Pellet Production Plant
The project involves the construction of a pellet production plant in Cherepovets, Vologda Oblast.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
The aim of the project is to meet the high demand of the pellet production in the region.
2. Art Quarter Publicist Residential Complex
The project involves the construction of the Art Quarter Publistist Residential Complex on a 668,000m2 area in the Pushkinsky, Moscow.
Construction work commenced in Q3 2024 and is expected to finish in Q2 2027.
3. Korsakov Far Eastern Quarter Development
The project involves the construction of the Far Eastern Quarter Development in the city of Korsakov, Sakhalin.
Construction work started in Q3 2024 and is forecast to complete in Q4 2046.
4. Korsakov Seaport Modenization
The project involves the development of new facilities and modernization of the Korsakov port in Korsakovsky District, Sakhalin Oblast.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2026.
The project’s purpose is to improve cargo-handling rates, handle ocean-class vessels, and make it one of the largest ports in Sakhalin. Buy the profile here.
5. Green Apple Residential Complex
The project involves the construction of a residential complex on a 363,000m2 area in Yablonovskiy, Adygeya.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
The aim of the project is to ensure a comfortable stay with all required facilities for residents and also to improve the quality of living in the region. It will create 1,000 new jobs. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
