GDS Holdings (GDS) Construction in Progress (2015 - 2025)

GDS Holdings' Construction in Progress history runs 11 years deep, the most recent figure standing at $795.2 million for Q4 2025.

• In Q4 2025, Construction in Progress fell 12.98% year-over-year to $795.2 million; the TTM figure through Dec 2025 stood at $795.2 million (down 12.98% YoY), while the FY2025 annual figure was $784.9 million, down 14.12% from the prior year.
• Construction in Progress was $795.2 million for Q4 2025 at GDS Holdings, down from $913.9 million in the prior quarter.
• In the past five years, Construction in Progress ranged from a high of $1.5 billion in Q4 2022 to a low of $795.2 million in Q4 2025.
• Historically, Construction in Progress has averaged $1.1 billion across 5 years, with a median of $1.1 billion in 2021.
• The sharpest annual moves came in 2021 and 2024: Construction in Progress jumped 42.58% in 2021, then fell 24.0% in 2024.
• A 5-year view of Construction in Progress shows it stood at $1.1 billion in 2021, then soared by 34.55% to $1.5 billion in 2022, then dropped by 21.02% to $1.2 billion in 2023, then dropped by 24.0% to $913.9 million in 2024, then dropped by 12.98% to $795.2 million in 2025.
• The last three Construction in Progress figures came in at $795.2 million (Q4 2025), $913.9 million (Q4 2024), and $1.2 billion (Q4 2023), per Business Quant data.