The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.9% in 2023. 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 retail building construction projects that were initiated in Q1 2024, according to GlobalData’s construction projects database.
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1. Melrose Central Mixed-Use Community
The project involves the construction of a mixed-use community on 30ha of land in Sydney, New South Wales, Australia.
Construction work started in Q1 2024 and is expected to be completed in Q2 2027.
It will form the main service, entertainment, and shopping area for the entire 55ha of Melrose Park precinct
2. Aeon Mall Suzaka
The project involved the construction of a 63,000m2 four-story above-ground and three-story bellow-ground commercial facilities on 16.7ha of land in Suzaka City, Nagano Prefecture, Japan.
Construction work commenced in Q1 2024 and is expected to finish in Q4 2025.
3. Ace YXP Mixed-Use Complex
The project involves the construction of a mixed-use complex on 16,000m2 of land in Sector 22D, Noida, Uttar Pradesh, India.
Construction work started in Q1 2024 and is forecast to complete in Q1 2027.
4. Unity Shopping Mall
The project involves the construction of a 18,259m2, five-story shopping mall in Guwahati, Assam.
Construction work commenced in Q1 2024 and is expected to be completed in Q4 2025.
The Unity Mall focuses on the promotion and sale of the state’s own ODOP (one district, one product).
5. Calderwood Village Center
The project involves the construction of a village center on 1.85ha of land in New South Wales, Australia.
Construction work started in Q1 2024 and is expected to be completed in Q1 2025.
It is located in Lendlease’s $247 million master-planned community in the Illawarra.
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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.
