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 35,000 mega projects, costing over $100m each.Here are the world’s five largest construction projects initiated in Q4 2024, according to GlobalData’s Construction Projects database.
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1. AREA Data Centre Campus, Malaysia
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. I-45 North Houston Highway Improvement, United States
The project involves the reconstruction of 39.1km of I-45 North between Houston’s Downtown and the North Sam Houston Tollway in Texas, the US.
Construction work commenced in Q4 2024 and is expected to finish in Q1 2032.
The project aims to improve the roadway up to federal safety standards and to enhance mobility. Buy the profile here.
3. New Carlisle Data Center Campus, United States
The project involves the construction of a data center in St.Joseph County, Indiana, the US.
Construction work started in Q4 2024 and is forecast to complete in Q4 2029.
4. Richland Parish Data Center, United States
The project involves the construction of a 371,612m2 data center on 910ha of land in Richland Parish, Louisiana, the US.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2030.
5. West Santa Ana Branch Transit Corridor, United States
The project involves the construction of a 31km LRT line corridor in Santa Ana, California, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2035.
The project aims to provide improved mobility, support local and regional land use plans and policies, minimize environmental impacts, ensure cost-effectiveness and financial feasibility, and promote equity and the project is a part of the Los Angeles 2028 Olympics. 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.
