We study how co-creation practices influence explorative and exploitative learning in five collaborative construction projects with partnering arrangements. Drawing on a longitudinal case study, our findings reveal two different types of explorative learning processes (i.e., adaptation and radical development) and three different exploitative learning processes (i.e., incremental development, knowledge sharing, and innovation diffusion). Furthermore, co-creation practices enhance adaptation, radical development, and incremental development, which are typical intra-project learning processes. Co-creation practices do not, however, enhance knowledge sharing and innovation diffusion across projects. These findings concur with previous insights that the temporary and one-off nature of projects makes inter-project learning problematic.