Mackay to promote £150m urban quarter to investors
Development: Finance secretary to showcase Aberdeen project in London
A £150million plan for a new “urban quarter” in the heart of Aberdeen – part of the city masterplan – is one of three Scottish projects being pitched to investors at an event hosted by Derek Mackay in London today.
The finance secretary will highlight the Granite City scheme, along with proposed developments in Glasgow and Renfrewshire, at a business breakfast at Scotland House in the capital.
Plans for the Aberdeen project, Queen’s Square, were first unveiled nearly two years ago.
Mr Mackay will present all three Scottish projects as attractive opportunities for a targeted audience of UK and foreign investors, intermediaries and “leading decision-makers”.
Today’s event is the second of its kind at Scotland House in a push by three organisations - Scottish Development International (SDI), the Scottish Cities Alliance and Scottish Property Federation - to pool economic development effort.
Mr Mackay said: “With more than 2,300 foreignowned companies employing a total of 317,000 staff here and realising a combined turnover of £86billion, foreign direct investment plays a vital role in Scotland’s economy.
“A recent study reported that for every £1 spent on attracting inward investment, £9 is generated for our economy.
“Attracting inward investment is a key priority for the Scottish Government – something which assumes even more importance in light of Brexit – and is one of the aims of our Trade and Investment Strategy.
“The events at Scotland House, our innovation and investment hub in London, bring together senior investors, fund managers and decision-makers to hear more about the benefits of investing in Scotland.”
SDI interim managing director Neil Francis added: “Much of Scotland’s success in attracting international investment comes from the strength of our connected cities and competitive business en- vironment, and together with the Scottish Cities Alliance we are actively engaging with target audiences in London and further afield to promote Scotland to international influencers.
“The Queen’s Square project aims to deliver housing and help regenerate the heart of the city.
“A fantastic opportunity to highlight the huge potential of Aberdeen.”
Plans unveiled in June 2016 included the demolition of the police headquarters in Queen Street as part of a transformation of the area, which was also to include the refurbishment of Marischal College’s eastern annexe and Greyfriars John Knox Church.
The vision was one of “cafes and shops spilling out on to pedestrian-friendly public streets and public space”, along with 330 new flats.
LOOKING AHEAD: An artist’s impression of the North Dee Business Quarter – part of the Aberdeen city masterplan