The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2023, having grown by 1.7% in 2022. 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 educational building construction projects initiated globally in Q1 2023, according to GlobalData’s construction projects database.
1. Washington Campus Renovation – $785m
The project involves the construction and renovation of academic buildings in Washington, D.C., the US.
Construction work started in Q1 2023 and is expected to be completed in Q4 2026.
The aim of the project is to provide new and improved facilities for faculty, students and staff. Buy the profile here.
2. Perth CBD Edith Cowan University – $617m
The project involves the construction of a 60,000m2, 11-story educational campus in Perth CBD, Western Australia, Australia.
Construction work commenced in Q1 2023 and is expected to finish in Q4 2025.
The aim of the project is to provide better educational facilities in CBD Perth. Buy the profile here.
3. MedUni Campus Mariannengasse (MCM) Research Complex – $406m
The project involves the construction of the MedUni Campus Mariannengasse (MCM) research complex on a 0.86ha area in Vienna, Austria.
Construction work started in Q1 2023 and is forecast to complete in Q4 2026.
The project’s aim is to meet the growing demand for research space at the University, ensure the top level of medical research and teaching in Vienna in the future, and create the best possible framework conditions in the areas of research and teaching. Buy the profile here.
4. New Suitland High School – $335m
The project involves the construction of a new, 36,149m2 school in Maryland, the US.
Construction work commenced in Q1 2023 and is expected to be completed in Q4 2026.
The project aims to replace the 70-year-old Suitland High School with a new school. Buy the profile here.
5. Tyler Medical Education Building – $308m
The project involves the construction of a 23,039m2 medical education building in Tyler, Taxes, the US.
Construction work started in Q1 2023 and is expected to be completed in Q1 2025.
The project aims to provide and support interdisciplinary education for graduate medical students, resident training, and nursing, and aid as part of a medical education program expansion throughout the UT Health East Texas Health System. In addition, the Medical Education Building will provide outpatient and specialty clinical services with exam rooms, specimen collection/processing, and imaging facilities. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
Subscribe to our Newsletters
Get industry leading news, data and analysis delivered to your inbox
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.
