The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.7% in 2023. A key growth market will be the infrastructure market, with output rising by 3.7% 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 projects in Asia Pacific, costing over $100m each.Here are the five largest construction projects initiated in Asia Pacific during Q4 2024, according to GlobalData’s construction projects database.
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1. AREA Data Centre Campus
The project involves the construction of a hyperscale data center on 63ha of land in Kedah, Malaysia.
Construction work started in Q4 2024 and is expected to be completed in Q2 2028.
2. Pluto Train 1 Scarborough Upgrade
The project involves the modification of the existing Pluto LNG Train 1 facilities with a production capacity of 3MTPA in Western Australia, Australia.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2026.
3. G0611 Chuanzhusi to Wenchuan Expressway
The project involves the construction of a 200.60km expressway from Chuanzhusi to Wenchuan in Sichuan, China.
Construction work started in Q4 2024 and is forecast to complete in Q4 2027.
4. Dongfang Offshore Wind Power Hydrogen Production and Energy Comprehensive Utilization Demonstration Plant
The project involves the construction of an offshore 1,500MW wind power hydrogen production and energy comprehensive utilization demonstration plant in Dongfang, Hainan, China.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2027.
5. Shenyang International Smart Health City
The project involves the construction of an international smart health city in Shenyang, Liaoning, China.
Construction work started in Q4 2024 and is expected to be completed in Q4 2029.
The project aims to build a hospital to provide the region with better healthcare services.
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.
