130 30 INVESTMENT STRATEGY

Tourism Minister Arlene Foster has launched a ?5million fund for a programme of events to promote Northern Ireland tourism in 2012, at an event in Belfast today.

The ?5million funding package comes from the Department of Enterprise, Trade and Investment (DETI) and the Northern Ireland Tourist Board (NITB).

Tourism Minister Arlene Foster is pictured at the launch with Alan Clarke, NITB

Launching NI2012 at Titanic House in Belfast, Arlene Foster said: “2012 will be a year of opportunity for Northern Ireland. The eyes of the world will be on Northern Ireland, which is why I reallocated ?3.5million from my department’s budget settlement to the Northern Ireland Tourist Board to prioritise the promotion of tourism during this significant year.

“2012 presents a unique opportunity to deliver a year-long celebration of Northern Ireland. Many significant events lie ahead such as the centenary of the maiden voyage of Titanic in April 2012, the 50th Ulster Bank Belfast Festival at Queens and the arrival of the Clipper Round the World Yacht race to Londonderry. The maiden city will also be preparing to take up the mantle of UK City of Culture 2013.

“By 2012 we will also have completed an investment of ?300million in capital infrastructure, including the Giant’s Causeway Visitor Centre and the Titanic Signature Project.”

The events programme for 2012 and beyond is expected to boost visitor numbers and, in turn, bring significant economic benefits to Northern Ireland.

Arlene Foster said: “2012 is just the start – it is a significant tipping point for Northern Ireland tourism and will help to increase visitor numbers and stimulate economic growth.

“We have identified a number of benefits over the next three years from staging this programme of events, including attracting up to 833,000 additional visitors, generating an additional ?140million in revenue for the economy and the potential to create over 3,500 jobs.”

US firm Kennedy Wilson today announced the acquisition of Bank of Ireland’s Real Estate Investment Management (BoI REIM).

The deal will be Kennedy Wilson’s first Irish and European business acquisition and will add EUR 1.6 billion of real estate assets to the company.

The acquisition will see the establishment of Kennedy Wilson Europe , which will be carried out in conjunction with BoI REIM’s senior management. Operating from Dublin and London, the new branch will serve as a base for Kennedy Wilson to develop its asset management and investment throughout Europe.

“Kennedy Wilson has a successful history of building long term business operations in new geographic markets and a reputation for finding value added investment opportunities.” William McMorrow, Kennedy Wilson chairman and ceo commented,

“We have worked with financial institutions through all real estate cycles in Japan and the United States, and we look forward to working with the European banks and financial institutions.”

Founded in 1977, Kennedy Wilson currently operates 23 offices through the US, Europe and Japan.