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 multi-family housing construction projects initiated globally in Q4 2023, according to GlobalData’s construction projects database.
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1. 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.
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2. Naawi-Oodena Urban Development Zone project
The project involves the construction of the Naawi-Oodena Urban Mixed-use Development Zone on 3.1ha of land in Manitoba, Canada.
Construction work commenced in Q4 2023 and is expected to finish in Q3 2027.
The project aims to redevelop the former Kapyong barracks site in Winnipeg’s Tuxedo neighborhood and to enhance sustainable growth and economic prosperity of the region. Buy the profile here.
3. HILS Republica Mixed-Use Complex
The project involves the construction of a 180,000m2 mixed-use complex in Bucharest, Romania.
Construction work started in Q4 2023 and is forecast to complete in Q4 2033.
The project aims to transform the former Faur-Republica industrial area into a mixed-use complex. Buy the profile here.
4. Eaton Park Residential Development
The project involves the construction of six towers comprising 1,968 luxury apartment units on 3.77ha of land in Ho Chi Minh City, Vietnam.
Construction work commenced in Q4 2023 and is expected to be completed in Q1 2027.
The project aims to provide more accommodations in Ho Chi Minh City, which is suffering a decline in housing supply, Buy the profile here.
5. Trinity Islands Residential Complex
The project involves the construction of a residential complex comprising four towers ranging from 39- to 60 stories with 1,950 apartments on 1.9ha of land in Manchester, the UK.
Construction work started in Q4 2023 and is expected to be completed in Q4 2032.
The project aims to provide better residential facilities.
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.
