The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest multi-family housing construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. Sun Urban City
The project involves the construction of Sun Urban City on 420ha of land in Phu Ly City, Ha Nam, Vietnam.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
2. Harbour Shores Precinct
The project involves the construction of 30 residential towers ranging from two to 12 stories with 2,000 units on 15.7ha of land in Biggera Waters, Queensland, Australia.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2026.
The project is targeting the 6-Star Green Star community. Buy the profile here.
3. 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, Russia.
Construction work started in Q3 2024 and is forecast to complete in Q2 2027.
4. Nishi-Azabu 3-chome Northeast District Urban Redevelopment
The project involves the construction of a 200m high, 54-story mixed-use complex with a floor area of 96,826m2 on 0.7ha of land in Minato-ku, Tokyo, Japan.
Construction work commenced in Q3 2024 and is expected to be completed in Q2 2028.
The project aims to provide better residential and commercial facilities in the region. Buy the profile here.
5. Korsakov Far Eastern Quarter Development
The project involves the construction of the Far Eastern Quarter Development in the city of Korsakov, Sakhalin, Russia.
Construction work started in Q3 2024 and is expected to be completed in Q4 2046.
For more details on the latest construction projects, buy the profiles here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
