The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2023, having grown by 3.9% in 2022. A key growth market will be the infrastructure market, with output rising by 11.9% 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 Asia Pacific’s five largest hotel construction projects that were initiated in Q4 2023, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Ezhou Garden Expo Park
The project involves the construction of a garden expo park in Ezhou, Hubei, China.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
The project aims to promote urban development, improve urban quality, and promote the development of the cultural and tourism industry. Buy the profile here.
See Also:
2. Xiamen Strait Success Building
The project involves the construction of a regional high-end boutique business complex in Siming District, Xiamen, Fujian, China.
Construction work commenced in Q4 2023 and is expected to finish in Q3 2026.
The project aims to provide better commercial facilities in the region. Buy the profile here.
3. Navya Ayodhya Tourist Township
The project involves the construction of a tourist township on 202ha of land in Ayodhya, Fyzabad, Uttar Pradesh, India.
Construction work started in Q4 2023 and is forecast to complete in Q2 2027.
The project aims to provide better residential, office, and commercial facilities in the region and bring Ayodhya to the world tourism map. Buy the profile here.
4. Okura Prestige Saigon Hotel Tower
The Okura Prestige Saigon project involves the construction of a 30,000m2 40-story five-star hotel tower comprising 250 rooms in Ho Chi Minh City, Vietnam.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.
The project aims to provide a new way of living with a seamlessly connected smart home that will enable comfort and convenience for residents. Buy the profile here.
5. Iconic Marjorie Hotel
The project involves the construction of a hotel with 298 rooms in Bayan Lepas, Penang, Malaysia.
Construction work started in Q4 2023 and is expected to be completed in Q3 2024.
The aim of the project is to provide better leisure facilities in the region and to offer business travelers accommodation close to major commercial areas. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
