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 office building construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. Yaesu 1-Chome North District Type One Urban Redevelopment
The project involves the construction of two commercial buildings with a total floor area of 1,82,560m2 on 1.6ha of land in Chuo-ku, Tokyo, Japan.
Construction work started in Q4 2024 and is expected to be completed in Q4 2031.
The project’s main aim is to provide better office, retail, and hospital facilities in the region. Buy the profile here.
2. Mandiri Financial Center
The project involves the construction of two office complexes spanning 100,000m2 across a 1.2ha area PIK 2 (Pantai Indah Kapuk), Tangerang, Banten, Indonesia.
Construction work commenced in Q4 2024 and is expected to finish in Q2 2027.
3. Billund Innovation Campus
The project involves the construction of a 50,000m2 Innovation Campus on a 4ha of land in Billund, Denmark.
Construction work started in Q4 2024 and is forecast to complete in Q4 2027.
4. Coolsingel 93 Office Building
The project involves the construction of a 25-story, 18,400m2 office building in Rotterdam, South Holland, Netherlands.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2025.
5. Henderson Avenue Mixed-Use Complex
The project involves the construction of a 14,957m2 mixed-use complex comprising 10 buildings on North Henderson Avenue between Glencoe Street and McMillan Avenue in Dallas, Texas, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
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.
