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 office building construction projects that were initiated in Q3 2024, according to GlobalData’s construction projects database.
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1. Xi’An Northwest Science and Technology Innovation Center
The project involves the construction of a science and technology innovation center in Xi’an, Shaanxi, China.
Construction work started in Q3 2024 and is expected to be completed in Q2 2027.
It aims to develop a science and technology innovation center to fulfill the commecrical facilities in the region.
2. 600 Collins Street Office Tower
The project involves the construction of a 180m high, 60,000m2 premium-grade office tower on 0.24ha of land in Melbourne, Victoria, Australia.
Construction work commenced in Q3 2024 and is expected to finish in Q2 2026.
In December 2020, Hines acquired a development site in the heart of Melbourne’s CBD for $156 million with plans for a $761 million office tower development. The site was previously held by Chinese-backed developer Landream who had planned to develop a 54-story luxury apartment with 420 apartments and a hotel tower.
3. Sankaido Office Building
The project involves the construction of a 94m high, 34,600m2, and a 19-story office building on 0.32ha of land in Minato-ku, Tokyo, Japan.
Construction work started in Q3 2024 and is forecast to complete in Q3 2027.
4. Goregaon Commercial Development
The project involves the construction of a commercial complex in Goregaon, Mumbai, Maharashtra, India.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2028.
The project aims to provide better office and hospitality facilities in the region.
5. Shantou Professional Homewear Procurement Base
The project involves the construction of a professional homeware procurement base on a site area of 8.46ha with a construction area of 420,000m2 in Chaonan District, Shantou, Guangdong, China.
Construction work started in Q3 2024 and is expected to be completed in Q4 2027.
For more details on the latest construction projects, buy the profiles here.
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