A new report has revealed construction activity in Belfast has reached the highest level seen in nearly a decade
Belfast is currently experiencing a boom, as construction activity reaches the highest levels since 2008.
The Belfast Crane Survey from Deloitte examined recently completed projects as well as those taking place on 30 developments in the capital. The projects range from educational facilities to office schemes and hotels.
Belfast construction activity led by education and tourism
The survey revealed the movement in construction activity is being led by the education and tourism sectors, with retail and leisure investment also healthy.
However, office and residential development activity was slowed.
Simon Bedford, partner in Deloitte’s real estate practice, said investment and development in the city is “on an upward trajectory”.
“Our first Belfast Crane Survey confirms that Belfast has much to look forward to,” he added.
“Belfast’s popularity as a business and leisure destination continues to rise and this is having a direct impact on the local property and construction sector, which is attracting significant investment to meet demand.
“Belfast’s development pipeline is in good shape and we therefore expect to see even more cranes on the skyline in 2017 and 2018.”
Opportunities for growth
Suzanne Wylie, chief executive of Belfast City Council, said: “The report demonstrates that private sector developers and investors see the opportunities being created by a growth in tourism, new companies locating here, growth in our own business base and more people, including students, wanting to live in the city centre.
“Over the next five years, the city has, through its recently launched Belfast Agenda, set out more ambitious targets to create 15,000 new jobs, double tourism spend and encourage another £1.5bn of investment in more buildings and regeneration projects to meet demands.
“This survey demonstrates that we have momentum that will be to the benefit of every part of Northern Ireland, not just Belfast.”
