The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2023, having grown by 3.7% in 2022. A key growth market will be the infrastructure market, with output rising by 3.7% 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 projects in Asia Pacific, costing over $100m each.Here are the five largest construction projects initiated in Asia Pacific during Q4 2023, according to GlobalData’s construction projects database.
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1. Yan’an-Yulin High Speed Railway Line
The project involves the construction of a 239.74 km high-speed railway line with a speed of 350kph between Yan’an in Shaanxi province to Yulin in Guangxi Zhuang province, China.
Construction work started in Q4 2023 and is expected to be completed in Q4 2027.
The project aims to build a high-speed railway to provide smooth and faster traffic and will cut travel time between the cities.
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2. Panzhihua-Yanyuan Expressway
The project involves the construction of a highway from Panzhihua to Yanyuan in Sichuan, China.
Construction work commenced in Q4 2023 and is expected to finish in Q4 2029.
The project aims to build an expressway to increase mobility and provide a smooth flow of traffic. Buy the profile here.
3. Huangtong-Baise Railway Line
The project involves the construction of a 314.6km railway line from Huangtong to Baise connecting Guizhou and Guangxi in China.
Construction work started in Q4 2023 and is forecast to complete in Q4 2028.
Guangxi is bordered by Yunnan to the west, Guizhou to the north, Hunan to the northeast, and Guangdong to the southeast. It is also bounded by Vietnam in the southwest and the Gulf of Tonkin in the south. Buy the profile here.
4. Laem Chabang Port Expansion: Phase III
The project involves the third phase of Laem Chabang Port expansion on 256ha of land in Chonburi, Thailand.
Construction work commenced in Q4 2023 and is expected to be completed in Q4 2026.
It is the third phase of the Laem Chabang port project, which is a part of the Eastern Economic Corridor program. Buy the profile here.
5. Nanning-Shenzhen High-Speed Railway: Guangdong Section
The project involves the construction of a railway line from Nanning to Shenzhen: Guangdong Section in China.
Construction work started in Q4 2023 and is expected to be completed in Q4 2027.
The project aims to reduce the travel time between Nanning and Shenzhen.
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.
