The firm was named preferred contractor for the first phase of Tribeca Belfast, which aims to deliver 1,500,000 sq ft of prime residential, Grade A office, retail, food and beverage space in the city centre.
The 12-acre site is located beside St Anne's Cathedral bounded by Royal Avenue, Donegall Street, Lower Garfield Street and Rosemary Street.
Under its contract, Farrans will complete two Grade A office buildings comprising a total of 180,000 sq ft of space, including 24 luxury apartments, as well as ground floor retail and food & beverage units.
Praising the scheme, Glenn Gilmore, Regional Director at Farrans, said: "Once commenced the first phase of Tribeca Belfast will create more than 1,000 job opportunities which will include apprenticeship opportunities through the duration of the construction programme.
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"The project will run for two years across design development and construction. This job creation over the next few years is certainly another positive output for the Northern Ireland construction sector."
Neil Young, Chief Executive of Castlebrooke Investments, commented: "We are delighted to be working with Farrans, one of Northern Ireland's best known and most successful construction companies, as our preferred contractor for Phase One of Tribeca Belfast.
"We believe this project will have a hugely positive impact on a part of Belfast that has had little to no investment in recent years, as well as providing a boost to the whole economy through the jobs that will be created locally during the construction phase.
"The development is rooted in the aspirations of the city to become more international and to build on the optimism already apparent in Belfast. Farrans have embraced our regeneration vision and we look forward to seeing the project move forward in early 2019."
John Wilson, Managing Director of Farrans, added: "We are delighted to have been selected as preferred contractor by Castlebrooke Investments on the first phase of this key regeneration scheme within the heart of Belfast city centre. Over the years Farrans has delivered some of the most notable key regeneration projects in Belfast.
"This is an exciting development for us and for Belfast. In recent times, we been active throughout the UK and Ireland but we are keen to establish Tribeca Belfast as a success in our local market."
(CM)
