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 hospital construction projects initiated globally in Q4 2023, according to GlobalData’s construction projects database.
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1. Grantham Hospital Redevelopment
The project involves the redevelopment of Grantham Hospital in Aberdeen, Hong Kong.
Construction work started in Q4 2023 and is expected to be completed in Q3 2028.
The main purpose of the project is to accommodate inpatients, ambulatory and community care, clinical and support services.
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2. Riverside Women’s Health Center
The project involves the construction of a 54,813m2 women’s health center in Columbus, Ohio, the US.
Construction work commenced in Q4 2023 and is expected to finish in Q4 2026.
The project aims to provide better healthcare facilities for women and children in the region.
3. Royal Prince Alfred Hospital Redevelopment
The project involves the expansion of the Royal Prince Alfred Hospital with an additional 700 beds at Camperdown, Sydney, Australia.
Construction work started in Q4 2023 and is forecast to complete in Q3 2028.
The project is part of the Government’s Economic Recovery Plan for Australia under the Budget 2020-21, which is aimed to rebuild the economy, create jobs, and offset the impact of the COVID-19 pandemic. Buy the profile here.
4. Tours University Hospital Expansion
The project involves the expansion of a university hospital center on 40ha of land in Tours, France.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2027.
The project is a part of the global investment plan of $851 million of the CHU Tours, which aims to group the hospital sites in Touraine and the faculty of medicine into a single site by 2040.
5. Wroclaw Oncology Hospital
The project involves the construction of a five-story hospital comprising 671 beds hospital on 10ha of land in Wroclaw, Poland.
Construction work started in Q4 2023 and is expected to be completed in Q4 2027.
The purpose of the project is to provide comprehensive medical care in Wroclaw. Buy the profile here.
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.
