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 leisure and hospitality building construction projects that were initiated in Q3 2024, according to GlobalData’s construction projects database.
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1. Uchisaiwaicho 1-Chome District Redevelopment
The project involves the construction of a mixed-use complex with a floor area of 1,100,000m2 comprising four towers on 6.5ha of land in Tokyo, Japan.
Construction work started in Q3 2024 and is expected to be completed in Q1 2038.
The project aims to provide better commercial and leisure facilities in the region.
2. Cat Ba Central Bay Tourism Development Project
The project involves the construction of the Cat Ba Central Bay tourism and commercial service project on 45.7 hectares of land in Cat Ba, Haiphong City, Vietnam.
Construction work commenced in Q3 2024 and is expected to finish in Q3 2026.
3. Mandarin Oriental Setouchi – Takamatsu
The project involves the construction of a 13-story hotel comprising 92 rooms on 0.5 ha of land in Takamatsu City, Kagawa Prefecture, Japan.
Construction work started in Q3 2024 and is forecast to complete in Q3 2027.
4. Bandar Serviced Apartment and Office Development
The project involves the construction of a mixed-use development in Bandar, Melaka, Malaysia.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
5. IKN Nusantara Hotel and Convetion Center
The project involves the construction of a five-star hotel and a convention center on 12ha of land at IKN Nusantara, East Kalimantan, Indonesia.
Construction work started in Q3 2024 and is expected to be completed in Q3 2026.
For more details on the latest construction projects, buy the profiles here.
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