Posted on Saturday 22 January 2011 byUlster Business
Five years since Titanic Quarter's master plan was published, the developers behind the scheme have revealed that work at the 185-acre Queen's Island site has generated contracts totalling £175m.
The figure relates primarily to construction work and professional design fees, the majority of which have been placed with Northern Ireland-based firms.
Since the master plan was launched in the Drawing Office where RMS Titanic was designed, a number of major projects have been completed or are nearing completion.
These include a new campus for Belfast Metropolitan College, a new Public Records Office and a Premier Inn hotel. Over 2,000 people, plus 500 construction workers, currently work on site.
Mike Smith, Titanic Quarter Ltd's CEO, said: "For a long-term scheme of the size and ambition of Titanic Quarter, five years is a relatively short period of time. That said, today Titanic Quarter is the largest building site on the island of Ireland with a number of major projects already completed or nearing completion.
"Our expectation is that Titanic Quarter will be a major driver of economic activity throughout Northern Ireland and that it will attract a significant element of inward investment. This is a £7bn development which is expected to create 25,000 jobs; the £175m invested to date represents just a ‘down payment' for the local economy.
"At a time when the construction industry and the Executive's capital expenditure budget face extreme pressure, projects such as the £97m Titanic Belfast visitor attraction, currently under construction, are providing work for almost 60 local firms ranging from piling to tiling."
Pictured with some of the 60 locally based sub-contractors currently working on the site are Mike Smith, CEO of Titanic Quarter Ltd, its Chairman, Pat Doherty, and Deputy Chairman, Conal Harvey.