Image:Belfast Harbour
Belfast Harbour has announced a major £313m investment plan aimed at transforming the port and its surrounding estate over the next five years.
The ambitious strategy, “Advance Regional Prosperity 2025-2029,” sets out a roadmap for significant infrastructure enhancements, with £208m earmarked for port improvements and £105m dedicated to regenerating the Harbour Estate and waterfront. As a Trust Port, Belfast Harbour reinvests all post-tax profits to strengthen its operations and contribute to the broader regional economy.
A key component of the strategy is a proposed £90m deepwater quay, designed to accommodate some of the world’s largest cruise vessels while also enhancing offshore wind turbine assembly and installation capabilities. The first phase of the quay’s construction, focused on bolstering cruise tourism, is expected to be completed by 2027-28. Currently, cruise tourism injects an estimated £20-25m annually into the local economy.
By 2030, the second phase of the deepwater quay project is set to expand the port’s role in assembling and installing the next generation of floating offshore wind turbines. This development hinges on securing additional funding from third parties or further investment.
Other significant infrastructure enhancements include the introduction of sustainably powered cranes and the redesign of Stormont Wharf, the port’s main deepwater berth. The wharf overhaul is a crucial element in strengthening the port’s handling capabilities for various types of cargo, including breakbulk and project freight.
Beyond port improvements, the strategy lays out a major push for waterfront development, with £60m allocated for the City Quays 5 project, a mixed-use development comprising office, retail, hospitality, and exhibition space. Additionally, plans for City Quays 4 include 325 new homes, incorporating affordable housing options. By 2030, Belfast Harbour aims to oversee the development of an additional 3,000 residential units.
Dr Theresa Donaldson, Chair of Belfast Harbour Commissioners, emphasized the economic benefits of the investment: “Through this strategy, Belfast Harbour will continue to contribute to the growth of the Northern Ireland economy. By investing £313m, we will build on our strengths as the region’s leading port and a vital economic hub, delivering for our customers and tenants. We will continue our pioneering efforts to diversify and decarbonise, helping to reimagine and regenerate the city and bring additional prosperity to the region.”
