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 office building construction projects initiated globally in Q4 2023, according to GlobalData’s construction projects database.

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1. Potrero Power Plant Mixed-Use Community

The project involves the construction of a 492,386m2 mixed-use community comprising 20 buildings on 11.7ha of land in California, the US.

Construction work started in Q4 2023 and is expected to be completed in Q4 2035.

The project aims to provide better office, residential, hotel and retail facilities in the region. Buy the profile here.

2. Jing’an Zhongxing Plot C070202 Unit 322-09 Mixed-Use Development

The project involves the construction of a mixed-use facilities on 160,000m2 GFA in Shanghai.

Construction work commenced in Q4 2023 and is expected to finish in Q4 2026.

The project aims to enhance the residential and commercial facilities in the region. Buy the profile here.

3. Xiong’an International Trade Center

The project involves the construction of a transit-oriented development (TOD) commercial complex in Xiong’an New Area, Baoding, Hebei, China.

Construction work started in Q4 2023 and is forecast to complete in Q2 2027.

The project aims to enhance the residential and commercial facilities in the region. Buy the profile here.

4. IKN Nusantara Infrastructure Phase III Development

The project involves the construction of infrastructure program in East Kalimantan, Indonesia.

Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.

The project aims to focus on development, such as reforestation of the national axis area, property development, electric transportation, and hospitals in the region. Buy the profile here.

5. Higashigotanda Two Chome Third District Type One Urban Redevelopment

The project involves the construction of two buildings comprising District A and District B at 2-Chome, Higashigotanda, Shinagawa-Ku, Tokyo, Japan.

Construction work started in Q4 2023 and is expected to be completed in Q4 2027.

The project’s main aim is to provide better office and residential facilities in the region. 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.