The construction market in Asia Pacific is forecasted by GlobalData to grow by 3.7% in real terms in 2024, having grown by 3.9% in 2023. A key growth market will be the infrastructure market, with output rising by 11.9% 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 Asia Pacific’s five largest hotel construction projects that were initiated in Q2 2024, according to GlobalData’s construction projects database.
1. Minami Ekimae Hotel
The project involves the construction of a 13,000m2, 30-story hotel comprising 600 rooms in a 0.13ha area of land at 2-chrome Matsubara-cho, Minami-ku, Hiroshima-shi, Hiroshima Prefecture, Japan.
Construction work started in Q2 2024 and is expected to be completed in Q3 2028.
2. Moxy Sydney Pitt Street Hotel
The project involves the construction of a 34-story, four-star hotel with 314 rooms in Sydney, New South Wales, Australia.
Construction work commenced in Q2 2024 and is expected to finish in Q3 2025.
The hotel podium will be built with recycled bricks. Buy the profile here.
3. Avani Mooloolaba Beach Hotel
The project involves the construction of a 13-story, 4.5-star hotel comprising 180 rooms on 0.29ha of land in Maroochydore, Queensland, Australia.
Construction work started in Q2 2024 and is forecast to complete in Q3 2025.
The project aims to provide better hospitality facilities in the region.
4. Tenjin 1-7 Mixed-use Tower
The project involves the construction of a 91m-high, 73,958.86m2 mixed-use tower comprising 21-story above the ground and four-story below the ground on 0.64ha of land at 1-326-1 Tenjin, Chuo-ku, Fukuoka City, Fukuoka Prefecture, Japan.
Construction work commenced in Q2 2024 and is expected to be completed in Q4 2027.
The project will come up at the site of the former commercial building `IMS’.
5. Chennai Arterial Nelson Taj Hotel
The project involves the construction of a hotel on 1.5ha of land with 235 rooms and 123 Taj-branded residences at Arterial Nelson Manickam Road in Chennai, Tamil Nadu, India.
Construction work started in Q2 2024 and is expected to be completed in Q1 2027.
The aim of the project is to provide the most exclusive homes in the city.
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.
