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July 29, 2022

Five largest hotel construction projects initiated globally in Q2 2022

By Carmen

Here are the largest hotel construction projects initiated globally in Q2 2022, according to GlobalData’s construction projects database.

1. Resorts World Sentosa Expansion – $3,319m

The project involves the expansion of an integrated resort in Singapore.

Construction work started in Q2 2022 and is expected to be completed in Q4 2026.

The aim of the project is to increase the gross floor area of the resort by around 50%. Once complete, it aims to provide a distinctive purpose-of-visit tourism experience and will integrate with the future Greater Southern Waterfront and is expected to become the centerpiece of the new entertainment hub of Asia.

2. Pedernales Tourism Development – $2,245m

The project involves the construction of a port, airport, water infrastructure and hotels on a 380ha site area in Cabo Rojo, Pedernales, Dominican Republic.

Construction work commenced in Q2 2022 and is expected to finish in Q4 2030.

The objective of the project is to generate economic activity, development of highways, electricity works and an airport, among others.

3. Cadia Qui Nhon Mixed-Use Development – $320m

The project involves the construction of two 40-story mixed-use tower on 0.52ha of land in Binh Dinh, Vietnam.

Construction work started in Q2 2022 and is forecast to complete in Q4 2024.

The purpose of the project is to provide a diverse range of facilities including retail, residential and other facilities to meet the lifestyle needs of people in the region.

4. JPMorgan Chase Global Headquarters – $250m

The project involves the construction of a mixed-use tower in Manhattan, New York, the US.

Construction work commenced in Q2 2022 and is expected to be completed in Q3 2025.

The aim of the project is to accommodate 14000 employees with facilities to work, shop, stay, play and dine.

5. Iron Market Commercial Complex – $242m

The project involves the construction of a commercial complex with two 146m high, 42-story towers on 1.52ha of land in Hong Bang, Hai Phong, Vietnam.

Construction work started in Q2 2022 and is expected to be completed in Q4 2024.

The project aims to provide better hospitality and retail facilities in the region.

Methodology: This analysis is drawn from GlobalData’s global construction projects database, which tracks new construction projects over $25m from announcement to completion.

Verdict’s parent company GlobalData plc provides business information to 4,000 of the world’s largest companies.

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