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 Q2 2023, according to GlobalData’s construction projects database.
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1. Adelaide Central Market Arcade Redevelopment
The project involves the construction of a 39-story mixed-use tower in Adelaide, South Australia, Australia.
Construction work started in Q2 2023 and is expected to be completed in Q1 2026.
The project aims to provide better commercial and residential facilities in the region. The redevelopment will foster a local, diverse, and multicultural place responding to the changing consumer needs. Buy the profile here.
2. Archibald Mixed-Use Complex
The project involves the construction of a mixed-use complex comprising two towers with 323 apartments and 130 hotel rooms on 0.56ha of land in Gosford, New South Wales, Australia.
Construction work commenced in Q2 2023 and is expected to finish in Q3 2024.
The project aims to provide better residential and hotel facilities in the region. Buy the profile here.
3. Kitanakadori North District A1/2 District Project
The project involves the construction of a 150m high, mixed-use tower 40 floors above ground and two floors underground with a floor area of 97,081 m2 on 9.7ha of land in Yokohama, Kanagawa, Japan.
Construction work started in Q2 2023 and is forecast to complete in Q4 2026.
The project aims to provide the region with better hotel, leisure, and residential facilities. Buy the profile here.
4. Mandarin Oriental Hotel Renovation
The project involves the renovation of a 527-room luxury hotel in Marina Bay, Singapore.
Construction work commenced in Q2 2023 and is expected to be completed in Q3 2023.
The project aims to renovate the hotel and provide better hospitality facilities in the region. Buy the profile here.
5. Nihonbashi Caption by Hyatt
The project involves the construction of a 12-story hotel with a floor area of 9,958m2 comprising 195 rooms on 0.10ha of land in Nihonbashi, Tokyo, Japan.
Construction work started in Q2 2023 and is expected to be completed in Q3 2025.
The project aims to provide better leisure facilities in the region.
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.
