Dundee’s £1 billion waterfront regeneration is earning the city a growing international investment profile, according to city development director Mike Galloway.
The planning chief said the prospect of three million extra visitors and a £1bn boom in business and leisure spending following the opening of the V&A Dundee was drawing a host of “interesting inquiries” over eight massive development sites and other opportunities in the reshaped city centre.
And he hopes Dundee’s shortlisting as a contender in the 2017 UK City of Culture stakes will also help increase the city’s profile as an investment proposition.
“The Dundee waterfront project is a once-in-a-lifetime development opportunity and we are receiving interesting inquiries from around the UK, and further afield, which reflects the growing international profile that Dundee is earning as an interesting investment hotspot,” Mr Galloway said.
“Being shortlisted for the UK City of Culture title was a further major boost and will add to awareness of investment opportunities in the city.”
The project has reached its halfway point, with £500m of investment now secured. Much of the demolition work is completed, with work on a wide range of major infrastructure, transport, property and business investments well under way.
The first major opening of the new Malmaison hotel is expected to take place on December 1.
But Mr Galloway repeated his call for a further 500 hotel rooms to be built in the city, on top of those already in existence and the further developments planned at a rebuilt railway station and the Custom House and Harbour Chambers on Dock Street.
“The dramatic growth in business, leisure and family tourism will create demand for new accommodation, restaurants, bars, retail and a wide range of supplementary goods and services” he said.
The latest in a series of investor roadshows will take place in London next week, with others to follow in Aberdeen, Edinburgh and Glasgow later this year.