The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2023, having grown by 3.9% in 2022. A key growth market will be the infrastructure market, with output rising by 11.9% 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.

Here are Asia Pacific’s five largest office building construction projects that were initiated 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.

2. Xiong’an International Trade Center

The project involves the construction of a transit-oriented development (TOD) commercial complex in Xiong’an New Area, Baoding, Hebei, China.

Construction work commenced in Q4 2023 and is expected to finish in Q2 2027.

The project aims to enhance the residential and commercial facilities in the region. Buy the profile here.

3. IKN Nusantara Infrastructure Phase III Development

The project involves the construction of infrastructure program in East Kalimantan, Indonesia.

Construction work started in Q4 2023 and is forecast to complete in Q4 2026.

The project aims to focus on development, such as reforestation of the national axis area, property development, electric transportation, and hospitals in the region. Buy the profile here.

4. Higashigotanda Two Chome Third District Type One Urban Redevelopment

The project involves the construction of two buildings comprising District A and District B at 2-Chome, Higashigotanda, Shinagawa-Ku, Tokyo, Japan.

Construction work commenced in Q4 2023 and is expected to be completed in Q4 2027.

The project’s main aim is to provide better office and residential facilities in the region. Buy the profile here.

5. Tenjin Business Center Phase 2 Project

The project involves the construction of an 88.2m, 62,932 m2, office building with 18 floors above ground and two-floor below ground on 0.40ha of land in Fukuoka Prefecture, Japan.

Construction work started in Q4 2023 and is expected to be completed in Q2 2026.

The project aimed to provide better office and shopping facilities in the region. Buy the profile here.

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.