The value of Australia construction market is forecasted by GlobalData to decline by 2.7% in real terms in 2024, having decreased by 0.4% in 2023. A key growth market will be the infrastructure market, with output rising by 3.8% 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 the five largest construction projects initiated in Australia during Q3 2024, according to GlobalData’s construction projects database.
Smarter leaders trust GlobalData
1. Townsville to Mount Isa Transmission Line
The project involves the construction of a 1,050km transmission line from Townsville to Mount Isa corridor in Queensland.
Construction work started in Q3 2024 and is expected to be completed in Q4 2029.
It will create up to 800 full-time equivalent jobs during construction and support up to 100 jobs ongoing in operations and maintenance. Buy the profile here.
2. Harbour Shores Precinct
The project involves the construction of 30 residential towers ranging from two to 12 stories with 2,000 units on 15.7ha of land in Biggera Waters, Queensland.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2026.
The project is targeting the 6-Star Green Star community. Buy the profile here.
3. 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.
Construction work started in Q3 2024 and is forecast to complete 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. Buy the profile here.
4. MEL1 Data Center Expansion
The project involves the construction of a data center with a capacity of 100MW on 8.8ha of land at 176 Swann Drive in Derrimut, Victoria.
Construction work commenced in Q3 2024 and is expected to be completed in Q1 2026.
5. Carrington Place Residential Community
The project involves the construction of five buildings between eight to 12 stories residential community comprising 771 apartments on 3.2ha of land in Castle Hill, New South Wales (NSW).
Construction work started in Q3 2024 and is expected to be completed in Q1 2032.
The project aims to become one of Sydney’s most sustainable urban communities.
For more details on the latest construction projects, buy the profiles here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
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.
