Here are Asia Pacific’s five largest office building construction projects that were initiated in Q2 2022, according to GlobalData’s construction projects database.
1. Seomyeon Office Building Development – $715m
The project involved the construction of a 44,746m2, 32-story office building with eight floors below ground in Seomyeon, Busan, South Korea.
Construction work started in Q2 2022 and is expected to be completed in Q4 2025.
The aim of the project is to provide better commercial facilities in the region.
2. Waterloo Metro Quarter Development – $650m
The project involves the construction of a mixed-use community in Sydney, New South Wales, Australia.
Construction work commenced in Q2 2022 and is expected to finish in Q4 2024.
The project aims to provide better residential, commercial, and accommodation facilities in the region.
3. 360 Queen Street Office Tower – $608m
The project involves the construction of a 33-story, 200m high office tower in Brisbane, Queensland, Australia.
Construction work started in Q2 2022 and is forecast to complete in Q4 2025.
In June 2017, Charter Hall Prime Office Fund (CPOF) and Investa Commercial Property Fund (ICPF) acquired the project site for $40 million from mining entrepreneur Clive Palmer. The site comprised of a 10-story office tower with ground-floor retail, a four-story office building, a seven-story office building, and an 11-story office building.
4. Uchikanda 1-Chome District Redevelopment – $521m
The project involves the construction of an 84,500m2, 26-story, 130m high office tower with three basements on 0.51ha of land in Tokyo, Japan.
Construction work commenced in Q2 2022 and is expected to be completed in Q4 2025.
The aim of the project is to provide better office spaces in the region. It aims to redevelop the two sites, the Corp Building and the Hitachi Kamakurabashi Building into an office complex.
5. Bestfield Commercial Development – $425m
The project involves the construction of three 22-story commercial towers on 9.7ha of land at Netaji Subash Place in New Delhi, India.
Construction work started in Q2 2022 and is expected to be completed in Q1 2026.
The project aims to provide better commercial and office facilities in the region.
Methodology:This analysis is drawn from GlobalData’s global construction projects database, which tracks new construction projects over $25m from announcement to completion.
Verdict’s parent company GlobalData plc provides business information to 4,000 of the world’s largest companies.