According to GlobalData, the value of Russia construction market is forecast to decline by 4.2% in real terms in 2024, having grown by 3.5% in 2023. A key growth market will be the infrastructure market, with output dropping by 1.3% 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.
Here are the top five multi-family housing construction projects that commenced in Russia in Q3 2024, according to GlobalData’s construction projects database.
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1. Art Quarter Publicist Residential Complex
The project involves the construction of the Art Quarter Publistist Residential Complex on a 668,000m2 area in the Pushkinsky, Moscow.
Construction work started in Q3 2024 and is expected to be completed in Q2 2027.
2. Korsakov Far Eastern Quarter Development
The project involves the construction of the Far Eastern Quarter Development in the city of Korsakov, Sakhalin.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2046.
3. Green Apple Residential Complex
The project involves the construction of a residential complex on a 363,000m2 area in Yablonovskiy, Adygeya.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
The aim of the project is to ensure a comfortable stay with all required facilities for residents and also to improve the quality of living in the region. It will create 1,000 new jobs.
4. Tsvetnoy Boulevard Residential Complex
The project involves the construction of the Tsvetnoy Boulevard residential complex on 24ha of land in the Seversky District, Krasnodarskiy.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
5. Business Class Residential Complex Cosmos
The project involves the construction of a business class residential complex Cosmos on Krasnoarmeyskaya Street, Rostov-on-Don, Rostov.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
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