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 retail building construction projects that were initiated in Q1 2023, according to GlobalData’s construction projects database.
1. Kota Semarak Mixed-Use Development – $570m
The project involves the construction of a mixed-use complex on 11ha of land in Jalan Sultan Yahya Petra, Kaula Lampur, Malaysia.
Construction work started in Q1 2023 and is expected to be completed in Q4 2028.
The project aims to provide better residential and commercial facilities in the region. Buy the profile here.
2. JR Koiwa Station North Exit District Type One Urban Redevelopment – $559m
The project involves the construction of a 110m high, 30-story above-ground, and one-story below-ground mixed-use tower with a floor area of 94,709m2 on 0.86ha of land in Tokyo, Japan.
Construction work commenced in Q1 2023 and is expected to finish in Q1 2027.
The project aims to provide better residential and commercial facilities in the region. Buy the profile here.
3. Bengaluru Retail and Entertainment Complex Development – $250m
The project involves the construction of a retail and entertainment complex with a floor area of 102,193m2 on 9.3ha of land in Bengaluru, Karnataka, India.
Construction work started in Q1 2023 and is forecast to complete in Q3 2025.
The project aims to provide better commercial and leisure facilities in the region. Buy the profile here.
4. Manawa Bay Retail Precinct – $148m
The project involves the construction of a 24,000m2 retail precinct at Auckland Airport in North Island, New Zealand.
Construction work commenced in Q1 2023 and is expected to be completed in Q4 2024.
The aim of the project is to provide an exciting and new shopping experience for travelers arriving at and departing from the airport. It will create 500 jobs. Buy the profile here.
5. Phoenix Marketcity Kolkata – $83m
The project involves the construction of a 148,684m2 eight-story retail mall across 3.02ha of land near the junction of Diamond Harbour Road and Judges Court Road in Alipore, Kolkata, West Bengal, India.
Construction work started in Q1 2023 and is expected to be completed in Q4 2026.
The project aims to attract more national players and institutional investors to look at the city favorably and also to establish the company’s footprint in eastern India in association with CPP. Buy the profile here.
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.
