The developer behind the new £333million Aberdeen Exhibition and Conference Centre (AECC) said yesterday the project was progressing well and on budget.
Henry Boot aims to have the facility completed in 2019 and in good time for that year’s Offshore Europe oil and gas show.
Posting a near-9% jump in first-half profits yesterday, the Sheffield-based property development and construction giant said the new AECC and other Scottish work boosted performance.
It added: “Henry Boot Developments (the group’s investment and development arm) has made a strong contribution to the results, with major projects in Scotland driving growth”.
The new AECC is the division’s largest current development and an important part of Aberdeen City Council’s plan to grow the Granite City economy.
It is expected to contribute an additional 4.5million visitors, £113million of visitor spend and £63million net gross value added in economic value, while also creating 600 construction jobs and more than 350 permanent positions.
The Bucksburn development will deliver a new arena, conference halls and underground multi-purpose space.
Henry Boot Developments is busy elsewhere in Scotland, having partnered with West Dunbartonshire Council to revitalise an 8.5-acre site in Clydebank. A similar project, covering 6.8 acres, was recently completed in Livingston.
Regional director Nick Harris said: “We are delighted to be involved in a number of partnerships with city councils to regenerate our urban spaces.
“Scotland remains one of the key target areas for our ongoing investment strategy over the coming years.”
Henry Boot, which also has land promotion and construction divisions, said pre-tax profits surged to £22.6million during the first six months of 2017, from £20.8million a year ago.
Revenue rocketed to £195.4million, from £107.3million previously, with growth “driven by higher levels of activity across all business segments”.
Chairman Jamie Boot, whose great great uncle Henry founded the business in 1886, said: “Despite operating in a more uncertain economic and political climate, we continue to see a high level of demand for land and housing in the UK, and are delivering our commercial development portfolio ahead of our expectations, in particular at York and Aberdeen.
“We maintain a positive dialogue with our customers and have yet to see any direct impact from these external events.”
He added: “The £333million Aberdeen Exhibition and Conference Centre is progressing well and remains on budget.
“This first phase of a larger, longer term development, which is fully funded by Aberdeen City Council, is on schedule to be completed by mid-2019.”