The construction market in South and Central America is forecasted by GlobalData to grow by 1.6% in real terms in 2024, having grown by 4.0% in 2023. A key growth market will be the infrastructure market, with output rising by 2.5% in real terms. GlobalData tracks and profiles all major construction projects from announcement to completion. For further insight on this market,
Here are South and Central America’s five largest leisure and hospitality building construction projects that were initiated in Q3 2024, according to GlobalData’s construction projects database.
1. Grand Cayman Hotel & Residences
The project involves the construction of a five-star hotel with 100 rooms and 89 residential units on 6.4ha of land in Beach Bay, Cayman Islands.
Construction work started in Q3 2024 and is expected to be completed in Q4 2025.
The project aims to provide better hospitality facilities in the region.
2. Punta Bergantin Urban and Tourist Development: Hotel
The project involves the construction of two resorts in Puerto Plata, Dominican Republic.
Construction work commenced in Q3 2024 and is expected to finish in Q4 2026.
3. Gramado Hard Rock Hotel
The project involves the construction of the Gramado Hard Rock Hotel on 1.43ha are in Rio Grande do Sul, Brazil.
Construction work started in Q3 2024 and is forecast to complete in Q4 2027.
The project aims to enhance tourism and stimulate economic growth within the region.
4. Costa do Sauipe Hot Park Baia das Tartarugas Water Park Complex
The project involves the construction of a water park complex named Hot Park Ba铆a das Tartarugas on a 10ha area of land in Sau铆pe District, Bahia state, Brazil.
Construction work commenced in Q3 2024 and is expected to be completed in Q4 2027.
5. Belem Hotel Development
The project involves the construction of a hotel on a 0.2ha area in Par谩, Bel茅m, Brazil.
Construction work started in Q3 2024 and is expected to be completed in Q4 2025.
For more details on the latest construction projects,
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