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 commercial and leisure construction projects initiated globally in Q4 2023, according to GlobalData’s construction projects database.
1. Bellwether District Mixed Use Campus
The project involves the construction of a 1,300,643m2 mixed-use campus on 526ha in Pennsylvania, the US.
Construction work started in Q4 2023 and is expected to be completed in Q4 2029.
The project is a redevelopment of the former Philadelphia Energy Solutions refinery on the site. Buy the profile here.
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2. Iskandar Puteri Logistic Center
The project involves the construction of a logistic center on 55ha of land in Iskandar Puteri, Johor, Malaysia.
Construction work commenced in Q4 2023 and is expected to finish in Q4 2026.
It will create 13,000 operational jobs. Buy the profile here.
3. 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 forecast to complete in Q4 2035.
The project aims to provide better office, residential, hotel and retail facilities in the region. Buy the profile here.
4. The American Heartland Theme Park and Resort
The project involves the construction of an entertainment destination on 405ha of land in Vinita, Oklahoma, the US.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.
The project aims to build an entertainment and luxury outdoor resort destination. Once, completed the project will be one of the largest entertainment destinations in Vinita by creating 300 jobs in the region. Buy the profile here.
5. 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 started in Q4 2023 and is expected to be completed in Q4 2026.
The project aims to enhance the residential and commercial facilities in the region. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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