BELFAST will benefit from £2 billion of investment in regeneration and commercial property development in the next decade partly as a result of its continued participation in the world's largest international property conference held annually on the French Riviera.
The City Council's chief executive Suzanne Wylie revealed the potentially lucrative payback when addressing a debriefing event following last month's MIPIM event in Cannes, where a Northern Ireland-wide delegation showcased a number of major investment opportunities and highlighted the region as an outstanding destination of choice for tourism, education, business and living.
It comes despite a claim from pressure group the TaxPayers' Alliance that the £122,000 cost of the trip was excessive, and amid calls for the council to "cut back or justify jetting off on jollies".
Ms Wylie said: “In 2016 the council set an ambitious target of bringing £1 billion of investment in regeneration and commercial property development to Belfast, and just three years down the line, we’re on course to double that target.
“The £2 billion investment figure bears testament to all that our city has to offer. Since the millennium we’ve been saying that Belfast is a city on the rise, and it’s clear to see how far we’ve progressed.
“This volume of regeneration is thanks to strong collaboration between the private and public sectors.
“But if we want to continue securing investment, it’s imperative we work together to market our compelling proposition and have the industry and technical knowledge to back it up – which is why initiatives like MIPIM are vital.”
She said that as momentum continues to build in Belfast, it creates more interest in investment, resulting in more private and public-sector-led schemes across the city.
“Alongside the planned Belfast Waterside scheme in the East Bank area, Belfast Harbour Estate has been investing in offices and a hotel in City Quay,” she said.
“Meanwhile, there are exciting proposals for an environmental, film and leisure-led commercial development at Giant’s Park, North Foreshore and a further phase of regeneration in Titanic Quarter.
“Added to that, Belfast will also benefit from significant investment in many other major regeneration schemes like the Weavers Cross transport hub, Ulster University’s new Belfast campus, and a range of grade A office schemes including Merchant Square, the Mercantile, the development of the Ewart Building on Bedford Street and the new building for Kainos on the Dublin Road.”
Around 100 business leaders attended this year's MIPIM, with 40 public and private sector organisations represented including the six partner Belfast Region City Deal councils, Queen’s University and Ulster University, with the bulk of the campaign being funded by private sector sponsorship.
