Real estate and construction is one of the largest sectors of the global economy, with hundreds of billions of dollars spent on residential and commercial projects, civil infrastructure and production facilities every year.
Some of the largest construction projects can come at steep costs, reaching in the billions. While compiling a list of every megaproject in the world can be a monumental task, looking through some of the notable projects and the development/construction firms behind them can give us a clue about the most influential players on this goliath of a market.
In fact, one of the biggest stock gainers of all time and the brainchild of Warren Buffett, Berkshire Hathaway, is also represented in this industry, through its Berkshire Hathaway HomeServices subsidiary.
Hinkley Point C Nuclear Power Station - EDF Energy
The Hinkley Power C is a major nuclear power plant under construction in the UK, with EDF Energy leading the construction efforts on the project valued at nearly GBP 48 billion.
EDF Energy is the wholly-owned subsidiary of French energy giant EDF, which is majority owned by the French government.
The project is the largest ongoing commercial nuclear power project with a nameplate capacity of 3,260 MWe, making it the largest nuclear power plant operating in the UK. The plant is being built in the county of Somerset and is expected to be operational by 2031.
Mareterra - Egis Group
Mareterra, or Ansu du Portier, is a land reclamation and real estate development project in the Principality of Monaco, seeking to build luxury new residential units and expand the available selection of properties in the richest micronation in the world.
The construction and engineering works are led by Egis Group, which is a French advisory and engineering firm focusing on sustainable real estate development.
The Mareterra project is estimated to cost around EUR 2 billion and while it may be lower than some other entities on our list, the property prices on the new Monaco district have already reached Upper East Side levels, with a number of units having already been sold for upwards of EUR 100 million.
Hudson Yards - Oxford Properties Group
The most expensive ongoing construction project in New York City, Hudson Yards is a luxury development located above the West Side Yard in Manhattan, with a construction cost of an eye watering $25 billion.
The project is being constructed by Oxford Properties Group and The Related Companies L.P and is projected to be fully completed by 2030.
The first phase of the project has already opened in 2019 and comprises a range of infrastructure, such as residences, a hotel, a mall, office buildings, and more.
The project will include a total of 7 buildings - 6 residential buildings and one cultural center, called “The Shed”.
Aman Beverly Hills - Aman Resorts, Alagem Capital,
Aman Resorts is one of the most renowned hospitality and real estate development brands in the world, with 35 destinations in 20 countries.
The Aman Beverly Hills is a new project from the Aman team that will see the company open perhaps its most luxurious resort and condominium building after the famous Aman New York.
The project is expected to complete in 2027 and include a range of wellness services and amenities, as well as an option to use hotel services for condominium owners.
The total cost of the project is estimated at $2 billion, which includes the Aman hotel and condominiums, as well as the included amenities.
Nuanu City - Nuanu Inc
Nuanu City is a creative city under construction in Bali Indonesia, spanning 44 hectares and uniting residential, commercial, social and cultural facilities.
The project seeks to create a welcoming space for creatives and artists from all over the world to live, collaborate and exchange ideas in the small new city.
The infrastructure of the Nuanu City will be able to accommodate 6,000 tourists a day and offer private homes, condominiums, mixed-use spaces and more to residents and investors alike.
The project is expected to have a handover date of Q2 2026. While the specific costs of the construction and development is unknown, the overall budget of the city is likely to be above $1 billion.
