Funding for the £800,000 regeneration of the Tullycarnet area of East Belfast has been confirmed by Northern Ireland Social Development Minister Margaret Ritchie.

The proposed Tullycarnet Enterprise Park on the Old Dundonald Road covers a total area of 2.4 acres and upon completion in October 2008 will offer 25 office/light industrial units.

The Minister said: "Economic development is a key element of any successful regeneration programme. The Tullycarnet Enterprise Park will provide a new facility that will foster and encourage social and economic opportunities for the local community."

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Ritchie hopes the development will help attract inward investment in addition to providing employment and training opportunities for local people.

The project will be delivered by the Hanwood Trust Ltd, a subsidiary of Castlereagh Borough Council which focuses on the socio-economic regeneration of the Tullycarnet Estate and will be funded jointly by Castlereagh Borough Council and the International Fund for Ireland.

The Mayor of Castlereagh Borough Council, Councillor Myreve Chambers believes the project will be a catalyst for the regeneration of the Tullycarnet and wider Dundonald area.

Denis Rooney, Chairman of the International Fund for Ireland said without the support of our international donors, the United States, the European Union, Canada, Australia and New Zealand, we could not continue to fund projects such as the Hanwood project.

This project has been ongoing for 10 years and aims to help the community to achieve its full potential and to take opportunities now available as a result of peace.

(GK/JM)