The value of Thailand construction market is forecasted by GlobalData to grow by 2.1% in real terms in 2024, having decreased by 3.9% in 2023. A key growth market will be the infrastructure market, with output rising by 3.6% 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 Thailand during Q1 2024, according to GlobalData’s construction projects database.
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1. Rama III Mixed-Use Development
The project involves the construction of a mixed-use complex on 3.68ha of land in Bangkok.
Construction work started in Q1 2024 and is expected to be completed in Q4 2026.
2. Wanwela Na Chao Phraya Residential Development
The project involves the construction of five residential towers with 1,512 units on 13.65ha of land in Bangkok.
Construction work commenced in Q1 2024 and is expected to finish in Q4 2027.
3. On Nut Waste-to-Energy Plant 35 MW
The project involves the construction of a 35MW waste-to-energy power plant in Thailand.
Construction work started in Q1 2024 and is forecast to complete in Q2 2026.
The project aims to establish a waste incineration power generation facilities equipped with advanced environmental protection technology to effectively manage domestic waste in Bangkok, contributing to a green, low-carbon, and circular economy while relieving pressure on waste disposal in the city.
4. Chonburi Industrial Estate Data Center
The project involves the construction of a 4,000m2 data center with a consumption capacity of 12MW in Chonburi, Bangkok.
Construction work commenced in Q1 2024 and is expected to be completed in Q2 2025.
The project aims to meet the growing demand for data centers in the region.
5. Rayong EV Manufacturing Plant
The project involves the construction of an electric vehicle manufacturing plant with a production capacity of 50,000 vehicles per annum in Rayong.
Construction work started in Q1 2024 and is expected to be completed in Q4 2025.
The project aims to meet the growing demand for electric vehicles 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.
