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 multi-family housing construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. Windler Mixed-Use Community
The project involves the construction of a mixed-use community on 344ha of land in Aurora, Colorado, the US.
Construction work started in Q3 2024 and is expected to be completed in Q1 2032.
The main purpose of the project is to provide a diverse range of amenities including residential, retail, commercial, industrial and office facilities to meet the lifestyle needs of people in the Colorado region.
2. 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 commenced in Q3 2024 and is expected to finish in Q4 2028.
3. 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 started in Q3 2024 and is forecast to complete 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.
4. 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 commenced in Q3 2024 and is expected to be completed in Q4 2026.
The project is targeting the 6-Star Green Star community.
5. Four Seasons Private Residences Lake Austin
The project involves the construction of 18 buildings and 179 homes on 59ha of land in Austin, Texas, the US.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
The project aims to provide better residential facilities in the region.
For more details on the latest construction projects, buy the profiles here.
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