The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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 hydroelectric projects, costing over $100m each. Here are the largest retail building construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. San Jacinto Marketplace Mixed-Use Development
The project involves the construction of a mixed-use complex on 42.4ha of land at the intersection of I-10 and Garth Road in Baytown, Texas, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2028.
2. Verrado Marketplace Shopping Center
The project involves the construction of the 46,451m2 Verrado Marketplace shopping center on 20.23ha of land in Phoenix, Arizona, the US.
Construction work commenced in Q4 2024 and is expected to finish in Q2 2026.
3. Midland Costco store
The project involves the construction of a 16,165m2 retail store in Midland, Texas, the US.
Construction work started in Q4 2024 and is forecast to complete in Q3 2026.
4. Manor Crossing Shopping Center
The project involves the construction of a 13,935m2, four-building shopping center on 7.2ha of land in Manor, Texas, the US.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2026.
5. H-E-B Euless Grocery Store
The project involves the construction of an 11,706m2 H-E-B grocery store at 2105 Rio Grande Blvd in Euless, Texas, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2026.
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.
