The value of Indonesia construction market is forecasted by GlobalData to grow by 1.2% in real terms in 2024, having grown by 2.0% in 2023. A key growth market will be the infrastructure market, with output rising by 3.2% 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 five largest construction projects initiated in Indonesia during Q3 2024, according to GlobalData’s construction projects database.
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1. Morowali Industrial Park HPAL Smelter Facility
The project involves the construction of a high-pressure acid leaching (HPAL) smelter plant with a production capacity of 72,000 tonnes of mixed hydroxide precipitate (MHP) in Central Sulawesi.
Construction work started in Q3 2024 and is expected to be completed in Q4 2028.
2. Electric Car and Battery Manufacturing Plant
The project involves the construction of an electric car and electric vehicle battery manufacturing plant with a production capacity of 50,000 units per year in Subang.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2025.
VinFast Auto Ltd wants to invest around $1,200 million in the Indonesian market in the coming years.
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.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
4. IKN Nusantara Hotel and Convetion Center
The project involves the construction of a five-star hotel and a convention center on 12ha of land at IKN Nusantara, East Kalimantan.
Construction work commenced in Q3 2024 and is expected to be completed in Q3 2026.
5. Vice Presidential Palace Complex
The project involves the construction of a Vice President’s palace of 10,038.4m2 on 14.8ha of land in Sepaku District, East Kalimantan.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
The project aims to provide a better working place and administrative space in the new city development area by 2024. 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.
