The value of the UK construction market is forecasted by GlobalData to decline by 1.9% in real terms in 2024, having grown by 4.1% in 2023. A key growth market will be the infrastructure market, with output rising by 3.1% 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 the UK during Q3 2024, according to GlobalData’s construction projects database.
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1. Norfolk Vanguard Offshore Wind Farm 2800 MW
The project involves the construction of a 2,800MW offshore wind farm in Norfolk Coast.
Construction work started in Q3 2024 and is expected to be completed in Q2 2031.
The project aims to meet the electricity demand for around 1.3 million UK houses. Buy the profile here.
2. Eastern HVDC Transmission Line
The project involves the construction of two subsea links with a combined capacity of 4,000MW high voltage direct current (HVDC) connecting the east of Scotland down to two points in the northeast of England in the UK.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2029.
The main aim of the project is to achieve zero net greenhouse gas emissions by 2050 and to supply power to four million homes in the region. Buy the profile here.
3. Lincoln Western Growth Corridor
The project involves the construction of a mixed-use community on 97ha of land in Lincoln, Lincolnshire, England.
Construction work started in Q3 2024 and is forecast to complete in Q4 2028.
The site stretches from the A46 bypass in the east to Tritton Road in the west and from Skellingthorpe road to the south to the railway and Fossdyke in the north. Buy the profile here.
4. Canary Wharf Health and Life Sciences Tower
The project involves the construction of a 23-story, 76,459m2 health and life sciences lab facilities on 3.5ha of land in Greater London.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
The project is named One North Quay. Buy the profile here.
5. Nuneaton Housing Community
The project involves the construction of a residential community in Nuneaton, Warwickshire.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
The aim of the project is to provide better residential, new leisure, and education facilities for the community. Buy the profile here.
For more details on the latest construction projects, buy the profiles here.
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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.
