According to GlobalData, the value of Russia construction market is forecast 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,
Here are the top five commercial and leisure construction projects that commenced in Russia in Q3 2024, according to GlobalData鈥檚 construction projects database.
1. 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.
2. Chita Logistics Center
The project involves the construction of a logistics center on a 100,000m2 area in Chita, Transbaikal Territory.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2026.
The aim of the project is to provide a full range of good storage services in the region. It will create 10,000 jobs.
3. Uspenka Logistics Center
The project involves the construction of a logistics center on a 110,000m2 area in the Village of Uspenka, Tyumen.
Construction work started in Q3 2024 and is forecast to complete in Q2 2027.
The aim of the project is to provide class A warehouse complex to reduce the delivery time of goods, down to one day, for residents of the region. It will create 30 new jobs.
4. Sechenov University Hostel Development
The project involves the construction of a hostel with a 23,000m2 gross area at Sechenov University, Khamovniki, Moscow.
Construction work commenced in Q3 2024 and is expected to be completed in Q3 2027.
The aim of the project is to provide students with better living facilities.
5. Tomsk Expo and Engineering Center
The project involves the construction of an expo and engineering center in the Tomsk Special Economic Zone (SEZ).
Construction work started in Q3 2024 and is expected to be completed in Q4 2026.
The aim of the project is to attract investment and develop properties in the region.
For more details on the latest construction projects,
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