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 multi-family housing construction projects that were initiated in Q3 2024, according to GlobalData’s construction projects database.
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1. Sun Urban City
The project involves the construction of Sun Urban City on 420ha of land in Phu Ly City, Ha Nam, Vietnam.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
2. Lakeview-Taumata Development
The Lakeview-Taumata involves the construction of a mixed-use development on 10ha of land in Queenstown, Otago, New Zealand.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2039.
It will be New Zealand’s first precinct to utilize mass timber construction as a permanent store of carbon while improving the health and wellbeing outcomes of residents. A 100% renewable community energy system, energy-efficient design, and sustainable development.
3. Harbour Shores Precinct
The project involves the construction of 30 residential towers ranging from two to 12 stories with 2,000 units on 15.7ha of land in Biggera Waters, Queensland, Australia.
Construction work started in Q3 2024 and is forecast to complete in Q4 2026.
The project is targeting the 6-Star Green Star community.
4. Yaesu 2 Chome Naka District Type One Urban Redevelopment
The project involves the construction of a 43-story above-ground and three-story below-ground, 227m mixed-use tower with a floor area of 388,650m2 on 2.2ha of land in Tokyo, Japan.
Construction work commenced in Q3 2024 and is expected to be completed in Q1 2029.
The purpose of the project is to provide better residential and commercial facilities in the region.
5. Nishi-Azabu 3-chome Northeast District Urban Redevelopment
The project involves the construction of a 200m high, 54-story mixed-use complex with a floor area of 96,826m2 on 0.7ha of land in Minato-ku, Tokyo, Japan.
Construction work started in Q3 2024 and is expected to be completed in Q2 2028.
The project aims to provide better residential and commercial facilities in the region.
For more details on the latest construction projects, buy the profiles here.
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