Minister Poots said: "This is a very exciting development. An estimated £7billion is to be invested in the area over the next 25 years. So far planning approval has been granted to projects worth in excess of £500million.
"The construction phase of this major development project is providing much needed construction jobs and upon completion, will provide further jobs in the tourism and hospitality industry."
He added: "Seeing the development rise from the ground in the Titanic Quarter shows the significant impact our Planning Service and investors are having on Northern Ireland’s economy. This area is taking shape as a vibrant modern community in which up to 20,000 people will live or work.
-- Advertisement --
"It has taken the vision of the developers and the co-ordination and support of planners to realise the potential for the people of Belfast and for Northern Ireland."
Mike Smith, Chief Executive of the Titanic Quarter added: "The construction industry has had a tough time of late, but nevertheless with our continued good working relationship with Planning Service, we are forging ahead with our plans and look forward to developing all of Titanic Quarter over the next couple of decades.
"A number of significant development projects for Titanic Quarter have already been approved by Planning Service and work on these is progressing at pace. Such projects include the Titanic Signature Project, the new Public Records Office for NI, the Belfast Metropolitan College and new office and hotel accommodation. Indeed Citigroup is already operating from its new flagship offices at the TQ gateway site."
Cynthia Smith, Chief Executive of the Planning Service said: "The continued progress within the Titanic Quarter is reflective of the high quality development proposals which are being actively progressed by the Planning Service.
"The work of the Strategic Projects Division is providing real benefits to developers at this time of financial constraint."
In addition to the projects that are already built or under construction, there are around half a dozen others that are at an advanced stage in the planning process. Between them these projects will provide new office, residential, hotel and leisure accommodation.
Planning applications for further phases of development are expected to follow in the coming months.
(NS/BMcC)
