The construction of Research & Development facilities and student accommodation were the key drivers of development activity in Belfast in 2025, with one major residential project also underway that could prove pivotal in unlocking the long-awaited growth of city centre living, according to Deloitte’s latest Belfast Regional Crane Survey.
The survey monitors construction activity in Belfast city centre across a range of sectors including offices, residential, hotels, retail, education and student housing, and is seen as a barometer of developer sentiment and future plans.
Now in its 10th year, the annual Belfast Crane Survey showed that in total 15 major schemes were under construction or completed in Belfast in 2025, slightly down on the total of 17 recorded in 2024.
READ MORE: Danske Bank to welcome 15 new apprentices
There were five new projects that broke ground during the year, in line with the five new starts in 2024 but down from seven in 2023. The survey represents the lowest level of active developments and joint fewest number of new starts since the survey was first published.
However, since 2016, Deloitte notes that the survey has recorded 87 major project starts in the city centre across all categories, representing a period of significant growth and development for Belfast. Completions have included landmark projects such as Grand Central Station, Ulster University’s York Street Campus, the Grand Central Hotel, and The Ewart office development.
Deloitte noted that in the past decade over 2.5m sq. ft of office space and 1.5m sq. ft of education and R&D space has been delivered or is under development, while 7,500 purpose built student accommodation units and 2,200 hotel rooms have been completed or started since 2016. There has been an average of nine new major projects starting each year since the report started.
Three of the five new 2025 starts were in education. Of these, two are leading edge R&D developments – the Institute of Research Excellence for Advanced Clinical Healthcare and Momentum One Zero – highlighting the continued importance of innovative higher education institutions as drivers of development in the city.
One new hotel project started during the year – the redevelopment of the longtime empty Dorchester House – and one office scheme started on-site. One Bankmore Square adds 75,000 sq. ft of Grade A office space and is the first new office building to start construction since 2020.
While 1,224 student bedspaces remained under construction and are due for delivery in 2026, there were no new student accommodation starts during 2025.
Belfast City Council’s Local Development Plan identifies a need for 8,000 new residential units within the city centre by 2035. The Crane Survey recorded no new residential starts during 2025 but includes two live residential schemes, Loft Lines in Titanic Quarter and the Radius Housing development near the Gasworks, together comprising almost 900 homes. This is significant given the Crane Survey has recorded only 500 new homes in the city centre since 2016.
The Belfast Crane Survey is part of Deloitte’s Regional Crane Survey series, which monitors construction activity within four UK cities. Across all surveys – Belfast, Birmingham, Leeds and Manchester – 53 new construction starts were recorded in 2025 compared to 47 in 2024.
Marie Doyle, office senior partner at Deloitte in Belfast, said: “There has been significant progress since Deloitte launched the Belfast Crane Survey back in 2016, with major developments such as Grand Central Station acting as a driver of the economy and positively impacting how we live and work in the city. It is clear from this year’s survey that the education sector remains crucial to Belfast’s continued development.
READ MORE: Northern Ireland Quarterly House Price Index: House Prices Edge Up in Q4
“Alongside the student populations, city stakeholders remain focused on creating a vibrant, lively and sustainable city centre, which means growing the permanent city centre residential population. There are many reasons why targets for city centre living have not yet been achieved, but the signs are more positive that this next major step in the evolution of Belfast is within reach.”
Colin Mounstephen, director at Deloitte in Belfast, said: “When Deloitte launched the first Crane Survey in Belfast a decade ago, the city was experiencing a significant expansion in hotel development, marked by major projects such as the Grand Central Hotel and the AC Hotel by Marriott. The focus then shifted to new office spaces, with over half a million square feet completed in 2022 alone before the pandemic slowed momentum.
“The annual Crane Surveys have also tracked a surge in Purpose-Built Student Accommodation which continued beyond the pandemic but is now slowing, as well as significant Education and R&D developments by Ulster University and Queens University Belfast. The one sector that is slow and puts Belfast at odds with other cities is residential, which will be the focus for delivery over the next ten years. All eyes remain on the success of the Loft Lines development as a test case for new city centre living that could trigger new momentum and investment in residential.”
Sync NI's Autumn 2025 magazine explores how Northern Ireland is moving AI from pilot to production
This issue features exclusive insights from industry leaders on real-world AI implementation, responsible adoption, enterprise infrastructure, and how data-driven innovation is transforming businesses across the region.
Read the Big Data Special Edition free online →
Stay connected with NI's tech community:
Subscribe to our newsletter – Get the latest tech news, job opportunities, and events delivered to your inbox
Visit Sync NI – Your daily source for Northern Ireland technology news
