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 single-family housing construction projects initiated globally in Q3 2024, according to GlobalData’s construction projects database.
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1. Ryehill and Del Webb Sugar Land Residential Communities
The project involves the construction of a residential community at Ryehill comprising 2,500 units in Sugar Land near Hwy 59 and Grand Parkway, Texas, the US.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
2. Lincoln Western Growth Corridor
The project involves the construction of a mixed-use community on 97ha of land in Lincoln, Lincolnshire, England, the UK.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2028.
The site stretches from the A46 bypass in the east to Tritton Road in the west and from Skellingthorpe road to the south to the railway and Fossdyke in the north. Buy the profile here.
3. Nuneaton Housing Community
The project involves the construction of a residential community in Nuneaton, Warwickshire, the UK.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
The aim of the project is to provide better residential, new leisure, and education facilities for the community. Buy the profile here.
4. One Horton Heath Residential Community
The project involves the construction of a residential community comprising 3,000 homes on 125ha of land in Hampshire, England, the UK.
Construction work commenced in Q3 2024 and is expected to be completed in Q1 2028.
The project aims to provide better housing facilities in the region. Buy the profile here.
5. Woree Residential Community
The project involves the construction of a residential community comprising 490 homes on 5.3ha of land in Melbourne, Victoria, Australia.
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
For more details on the latest construction projects, buy the profiles here.
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GlobalData’s Construction Projects database tracks over 220,000 new construction projects valued at >$25m from announcement to completion across all countries and sectors.
