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 leisure and hospitality building construction projects initiated globally in Q4 2024, according to GlobalData’s construction projects database.
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1. Nayapul to Muktinath Cable Car
The project involves the construction of an 84.32km cable car ropeway from Nayapul to Muktinath of Mustang district in Gandaki province, Nepal.
Construction work started in Q4 2024 and is expected to be completed in Q3 2026.
The project aims to reduce congestion on the road and carbon emissions and ensure easy access to the hilltop temple through the installation of a ropeway.
2. Residence Inn Hotel at Patriots Point
The project involves the construction of a five-story, 7,618m2 hotel with 100 rooms in Mount Pleasant, South Carolina, the US.
Construction work commenced in Q4 2024 and is expected to finish in Q4 2026.
3. Beloit Tribal Casino and Resort
The project involves the construction of a resort and casino across 12.54ha of land in Beloit, Wisconsin, the US.
Construction work started in Q4 2024 and is forecast to complete in Q1 2026.
The project aims to provide better hospitality and leisure facilities, economic development, and job growth for the citizens in the region. Buy the profile here.
4. Crown Regency Grand Paradise Resort
The project involves the construction of 588 rooms on 2.9ha of land in Central Visayas, the Philippines.
Construction work commenced in Q4 2024 and is expected to be completed in Q4 2025.
5. University Of South Florida Football Stadium
The project involves the construction of a 57,135m2, five-tier stadium with a seating capacity of 35,000 in Tampa, Florida, the US.
Construction work started in Q4 2024 and is expected to be completed in Q4 2027.
The project aims to provide better sports facilities in the region.
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.
