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 retail building construction projects initiated globally in Q4 2023, according to GlobalData’s construction projects database.
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1. Cambuci Cosmopolitano Shopping
The project involves the construction of a shopping center on a 10.46ha area of land at Cambuci in São Paulo, Brazil.
Construction work started in Q4 2023 and is expected to be completed in Q2 2025.
The objective of the project is to provide enhanced retail and leisure facilities for people in the region. Buy the profile here.
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2. Ostroda Power Center Retail Park
The project involves the construction of a 27,000m2 retail park on 8ha of land in Warmian-Masurian Voivodeship, Poland.
Construction work commenced in Q4 2023 and is expected to finish in Q3 2024.
3. Krasno Selo Shopping Complex
The project involves the construction of a 31,000m2 shopping complex in Krasno Selo District, Sofia, Bulgaria.
Construction work started in Q4 2023 and is forecast to complete in Q2 2025.
The project aims to provide a new, comfortable complex, enriched with lots of greenery for the residents of the area. It is also known as “Holiday Park”. Buy the profile here.
4. Gokra Shopping Complex
The project involves the construction of a 25,000m2 shopping complex in Warmian-Masurian Voivodeship, Poland.
Construction work commenced in Q4 2023 and is expected to be completed in Q3 2024.
5. Designer Outlet Shopping Center
The project involves the construction of a 23,000m2 shopping center with 120 commercial units in Lesser Poland Voivodeship, Poland.
Construction work started in Q4 2023 and is expected to be completed in Q4 2025.
The purpose of the project is to provide additional retail and entertainment facilities for all major brands. 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.
