The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.9% in 2023. 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 Q1 2024, according to GlobalData’s construction projects database.
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1. JR Sannomiya New Station Building
The project involves the construction of a 155m high, 30-story above-ground, and 2 floors below-ground commercial tower with a floor area of 91,500m2 on 0.86ha of land in Kobe, Hyogo, Japan.
Construction work started in Q1 2024 and is expected to be completed in Q1 2029.
2. Subic Sun Convention Resort and Casino Development
The project involves the construction of a resort and casino comprising two hotels in the Subic Special Economic and Freeport Zone, Philippines.
Construction work commenced in Q1 2024 and is expected to finish in Q4 2026.
3. Nyaal Banyul – Geelong Convention and Exhibition Center
The project involves the construction of a 3,700m2 convention center on 1.6ha of land in Geelong, Victoria, Australia.
Construction work started in Q1 2024 and is forecast to complete in Q4 2026.
The project aims to provide better entrepreneurial and entertainment facilities in the region.
4. TTC Plaza Da Nang
The project involves the construction of a mixed-use development in Da Nang, Vietnam.
Construction work commenced in Q1 2024 and is expected to be completed in Q4 2025.
The project aims to attract domestic and foreign tourists and also meets the diverse needs from shopping, and culinary to culture, education, and entertainment for local people in the region. Buy the profile here.
5. Oita APA Hotel
The project involves the construction of a 4,706m2, 12-story hotel with 255 rooms on 0.06ha of land at 1-8-1 Kanaike-cho, Oita City, Oita Prefecture, Japan.
Construction work started in Q1 2024 and is expected to be completed in Q4 2025.
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.
