Belfast Harbour has announced a new five-year investment strategy, committing over £300 million to capital projects aimed at enhancing the port and its surrounding Harbour Estate. The strategy, titled Advance Regional Prosperity 2025-2029, outlines £208 million for port improvements and £105 million for ongoing regeneration efforts at the Harbour Estate and waterfront.
As a self-financing Trust Port, Belfast Harbour reinvests all post-tax profits into projects that benefit the local community and region. The strategy highlights key initiatives, including the construction of a new £90 million deepwater quay to support cruise tourism and expand the port's capacity for offshore wind turbine assembly and installation.
The first phase of the deepwater quay, which will focus on cruise tourism, is expected to be completed by 2027-28. Currently, cruise tourism contributes approximately £20-25 million annually to the local economy. The second phase, projected for completion by 2030, aims to enhance the port's infrastructure further, positioning Belfast Harbour as a key player in the development of floating offshore wind turbines. This phase, however, is contingent on securing additional investments or third-party funding.
Other notable projects include the acquisition of new, sustainably powered cranes and the planning for a rebuild of Stormont Wharf, the port's main deepwater berth.
The Harbour Estate investment plan also features the £60 million development of City Quays 5, a mixed-use regeneration project that will include office, retail, hospitality, and exhibition spaces. Additionally, Belfast Harbour plans to move forward with City Quays 4, a scheme for 325 homes, including affordable housing, and aims to develop up to 3,000 homes by 2030.
Dr. Theresa Donaldson, Chair of Belfast Harbour Commissioners, emphasized the strategy's long-term impact: “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.
This ambitious investment plan underscores Belfast Harbour's commitment to regional economic development and its role as a critical infrastructure hub in Northern Ireland.
