Work Progressing on £97 million Titanic Signature Building

Work is progressing on the £97million Titanic Signature Building

04 December 2009

Tourism Minister Arlene Foster today confirmed that work is progressing well on the £97million Titanic Signature Building in the heart of the Titanic Quarter, Belfast.

Commenting on the construction work underway, the Minister said: “Good progress is being made to create a truly world class tourist attraction for Northern Ireland. We have a proud industrial and maritime heritage, and only Belfast can tell the complete story of the world famous ‘RMS Titanic’. This project will also give potential visitors a unique and compelling reason to choose Northern Ireland as their destination.

“The social and economic benefits will also be very significant. We estimate that the Titanic Signature Building will attract around 400,000 visitors annually, of which between 130,000 and 165,000 will be from outside Northern Ireland.

“The advantages of this project also stretch far beyond tourism. In the current difficult economic climate this project provides an important boost for the construction industry. Furthermore there will be additional economic benefits that will result from a rise in indirect employment in other sectors, due to increased visitor numbers.”

The Titanic Foundation, the independent Charitable Trust which has been established to deliver the project, will own and operate the attraction when it opens in 2012.

Jonathan Hegan, Chairman of the Titanic Foundation Ltd said: “This building will be a landmark tourism, leisure and cultural facility. It will be over five storeys high, and contain a range of themed exhibition galleries that will tell the story of Titanic and the wider story of Northern Ireland’s industrial, shipbuilding and maritime history.

“The building will also include banqueting, retail and restaurant facilities, conference suites, a community resource and a unique ‘Flying Theatre’. It is a hugely exciting project and I look forward to working with all of our partners to deliver in time for the Titanic centenary year of 2012.”

Welcoming the progress, Howard Hastings, Chairman of the Northern Ireland Tourist Board (NITB) said: “The Titanic Signature Project was identified by NITB as one of five Signature Projects which will showcase what is truly unique about Northern Ireland. This project will bring the story of ‘RMS Titanic’ back home to Belfast, where she and her sister ships were designed and built. It will also act as a massive pull for visitors to the rest of Northern Ireland.

“We have already seen success with the wider Titanic Signature Project with the refurbishment of Titanic’s Dock & Pump-House, and continued work to bring SS Nomadic and Lagan Legacy to life. Authentic elements like the drawing offices and the slipways, will also combine with this new iconic building to transform the Titanic Quarter in to destination truly unique visitor experience.”

Mike Smith, CEO of Titanic Quarter Ltd, added: “This is a massive development and a massive boost for Titanic Quarter which unlocks the potential for further developments.

“Progress on the Signature Project will enable us to develop related plans for hotels, retail units and additional leisure space, including the development of Slipway Park – one of the largest public spaces to be created in Belfast in the past 50 years.”

Len O’Hagan, Chairman of Belfast Harbour, co-promoters of Titanic Quarter, added: “This is great news for the Northern Ireland economy, not just the construction jobs it will secure over the medium term, but the tens of thousands of visitors who will want to visit the birthplace of the Titanic and stay in the city which built her.

“Belfast Harbour already attracts 60,000 cruise passengers and crew every year and over 1.2million ferry passengers. Creating a focal point for the only authentic Titanic heritage in the world, just miles from where those passengers disembark, will be a major attraction that will enhance Belfast’s growing popularity as a tourist destination.”

The Lord Mayor of Belfast, Councillor Naomi Long, said that the decision by Belfast City Council to invest £10million in the Titanic Signature Project confirmed the council’s commitment to the development of the city for today’s generation and for those yet to come.

“By doing so, we are helping to provide employment for the construction industry, which has been badly affected by the economic downturn. The benefits do not stop there, however, as the Titanic Signature Project is expected to attract up to 400,000 visitors to Belfast, who will spend an estimated £30million each year, boosting our local economy.

“It is only fitting and right that the Belfast City Council gets involved in bringing the Titanic story back to its birthplace in time for its centenary anniversary. Our support for this project is in keeping with Belfast City Council's proud past of providing investment that becomes a catalyst for major improvements to the city. Our action today will leave a positive legacy for future generations.”

Last month the Executive agreed to proceed with its commitment to part fund the Titanic Signature Project, to the sum of up to £43.5million. Titanic Quarter Limited, the private sector partner in the project, as a signal of its commitment, had, at its own risk, and pending final Executive approval, authorised work to begin on site some time ago. This has ensured that the building remains on course for completion by April 2012.

The remaining £53.5million required for the project, will come from Titanic Quarter Limited, Belfast Harbour Commissioners and Belfast City Council.

Notes to editors:

1.For media enquiries, please contact DETI Press Office on 028 9052 9297. Out of office hours, please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.