The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest data center construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. KUL2 Hyperscale Data Center
The project involves the construction of a 256,000m2 data centre comprising 10 buildings with a consumption capacity of 256MW on 14ha of land in Cyberjaya, Selangor, Malaysia.
Construction work started in Q3 2024 and is expected to be completed in Q4 2025.
The project will be Vantage’s second data centre and is located adjacent to its existing campus (KUL1) in Cyberjaya. It also aims to provide low-latency connectivity to major cities in the region, including Singapore, Bangkok and Jakarta.
2. FIN04 Data Center
The project involves the construction of a 53,000m2 data center on 24ha of land in Ummeljoki near the Kymijoki beach in Kouvola, Kymenlaakso, Finland.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2026.
In 2018, AtNorth bought site the site from Redeve Oy.
3. Canelones Data Center Development
The project involves the construction of a data center on 29ha in the Parque de las Ciencias free zone, Canelones, Uruguay.
Construction work started in Q3 2024 and is forecast to complete in Q4 2026.
The project aims to meet the growing demand for cloud-based services. Buy the profile here.
4. Hainan Pengyin Kunlun Intelligent Computing Industrial Park
The project involves the construction of an intelligent computing industrial park on a 7.6ha site area in Hainan, Qinghai, China.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
5. Qinghai Delingha Intelligent Computing Center
The project involves the construction of an intelligent computing center in Delingha, Haixi Prefecture, Qinghai, China.
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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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
