The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. 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 Q3 2024, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Sunway Ipoh Mall
The project involves the construction of a shopping mall on 9.2ha of land in Ipoh, Perak, Malaysia.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
2. The Palacen of Auburn Hills Mixed-Use Complex
The project involves the construction of a 92,903m2 mixed-use complex on 44ha of land at the site of the Palace of Auburn Hills in Auburn Hills, Michigan, the US.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2025.
3. Nusantara Duty Free Mall
The project involves the construction of a 120,000m2 mixed-use complex on 9ha of land at IKN Nusantara, in East Kalimantan, Indonesia.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
4. Cordo Rental Apartments
The project involves the construction of an eight-story, 21,876m2 eight residential building on 0.64ha of land in Charlotte, North Carolina, the US.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2026.
5. Village Green Shopping Center
The project involves the construction of an 8,410m2, nine-building shopping center on 6.8ha of land in Nolensville, Tennessee, the US.
Construction work started in Q3 2024 and is expected to be completed in Q3 2025.
For more details on the latest construction projects, buy the profiles here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
