The global construction market is forecasted by GlobalData to grow by 1.8% in real terms in 2024, having grown by 1.7% in 2023. While the residential construction market in many countries will decline, this will be offset by high growth in the infrastructure sector, with output rising by 8.3% 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.
Driving growth in the market in 2022 and over the remainder of the decade are a potential 135 mega hydroelectric projects, costing over $100m each. Here are the largest institutional building construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. Kansas City National Security Campus Expansion
The project involves the expansion of the Kansas City National Security Campus (KCNSC), a central government office in Kansas City, Missouri, the US.
Construction work started in Q3 2024 and is expected to be completed in Q4 2031.
2. Sendai City Main Government Building Redevelopment
The project involves the construction of a 79.8m,15-story above-ground and two-story below-ground, administrative building with a floor area of 65,000m2 on 1.45ha of land in Sendai City, Miyagi Prefecture, Japan.
Construction work commenced in Q3 2024 and is expected to finish in Q1 2031.
3. Atsugi City Complex Facility
The project involved the construction of 47,800m2, two nine-story buildings, and one basement on 1.28ha of land in Atsugi City, Kanagawa Prefecture, Japan.
Construction work started in Q3 2024 and is forecast to complete in Q1 2027.
The main aim of the project is to provide better leisure facilities in the region.
4. Channings Wood Prison Expansion
The project involves the expansion of HMP Channings Wood prison in Newton Abbot, Essex, the UK.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
5. Central Intake and Assessment Center
The project involves the construction of a 14,790m2 jail comprising 278 beds with 303 inmates in Macomb County, Michigan, the US.
Construction work started in Q3 2024 and is expected to be completed in Q2 2027.
This project will serve as a jail for staffing a capacity of 1,034 individuals, 14 additional community corrections workers, 17 additional jail corrections deputy staff, and eight additional jail command staff.
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