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 single-family housing construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
1. San Tan Valley Residential Community
The project involves the redevelopment of Queen Creek Golf Course into multifamily housing in San Tan Valley, Arizona, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2027.
The project aims to provide residential facilities at a golf course in Queen Creek. Buy the profile here.
2. Wises Lane Residential Community
The project involves the construction of a residential community comprising of 675 homes out of which 81 are affordable in Sittingbourne, Kent, the UK.
Construction work commenced in Q4 2024 and is expected to finish in Q1 2028.
3. Westerfield Road Residential Community
The project involves the construction of a residential community comprising of 815 homes on 43ha of land in Suffolk, the UK.
Construction work started in Q4 2024 and is forecast to complete in Q3 2027.
4. Yew Farm Residential Community
The project involves the construction of 400 residential homes in Lincolnshire, England, the UK.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2027.
The main aim of the project is to provide residential facilities in the region. Buy the profile here.
5. Lone Star Prairie Homes
The project involves the construction of 188 single-family homes near 175th Street and Four Corners Road in Gardner, Kansas, 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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