The value of Russia construction market is forecasted by GlobalData to decline by 4.2% in real terms in 2024, having grown by 3.5% in 2023. A key growth market will be the infrastructure market, with output dropping by 1.3% 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.
Here are the five largest construction projects initiated in Russia during Q3 2024, according to GlobalData’s construction projects database.
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1. Cherepovets Pellet Production Plant
The project involves the construction of a pellet production plant in Cherepovets, Vologda Oblast.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
The aim of the project is to meet the high demand of the pellet production in the region. Buy the profile here.
2. Art Quarter Publicist Residential Complex
The project involves the construction of the Art Quarter Publistist Residential Complex on a 668,000m2 area in the Pushkinsky, Moscow.
Construction work commenced in Q3 2024 and is expected to finish in Q2 2027.
3. Korsakov Far Eastern Quarter Development
The project involves the construction of the Far Eastern Quarter Development in the city of Korsakov, Sakhalin.
Construction work started in Q3 2024 and is forecast to complete in Q4 2046.
4. Korsakov Seaport Modenization
The project involves the development of new facilities and modernization of the Korsakov port in Korsakovsky District, Sakhalin Oblast.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2026.
The project’s purpose is to improve cargo-handling rates, handle ocean-class vessels, and make it one of the largest ports in Sakhalin.
5. Ostrov Fortov Tourist And Recreational Center
The project involves the construction of a tourist and recreational center on 150ha of land in Kronstadt, Saint Petersburg.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
The aim of the project is to develop the tourist and cultural facilities, provide a platform for demonstrating the history of the maritime glory of Russia.
For more details on the latest construction projects, buy the profiles here.
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