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Belfast Construction Landscape Shifts Gears: A Comprehensive Analysis

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Belfast Construction Landscape Shifts Gears: A Comprehensive Analysis

Belfast Construction Landscape Shifts Gears: A Comprehensive Analysis
February 07
10:00 2024

In 2023, Belfast experienced a tempered pace in construction activity, as revealed by Deloitte’s annual regional crane survey. The city witnessed a dip in new projects and a modest decrease in ongoing or completed schemes. Despite the overall slowdown, the study illuminated the resilience of Belfast’s construction landscape, with key drivers being the development of student accommodations, hotels, and innovative residential schemes.

Delving into the statistics, the eighth-year survey dissected construction activity across various sectors. In 2023, Belfast saw the realization of 20 major schemes, a slight reduction from the previous year. Notably, only six ventures commenced, in contrast to nine in 2022. Mel Wilson, Director of Real Estate at Deloitte, highlighted that while the city centre displayed subdued development, Belfast exuded confidence through landmark projects in progress.

The year marked the completion of nine major developments, including four student accommodation initiatives contributing over 1,000 new rooms. The residential front saw five projects under construction, set to yield nearly 1,000 homes. The office space panorama witnessed the completion of three schemes, but only one substantial new project was initiated during the year. The surge in Belfast’s tourism industry was evident in burgeoning hotel developments, with planning permissions granted for nine additional hotel schemes.

Looking forward, the unveiling of Belfast Grand Central Station is anticipated to be a pivotal development, symbolizing the city’s enduring commitment to progress and serving as a harbinger of transformative changes. The report also highlighted the adaptation of office spaces to flexible working arrangements and the continued confidence in Belfast’s construction landscape, emphasizing the city’s forward momentum.

Source: Colin Gleeson for The Irish Times

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