EDINBURGH, April 30 (RIA Novosti), Mark Hirst – Scotland’s capital city of Edinburgh is set to rival London as one of the top shopping destinations in the UK, the organization that represents Scottish retailers has told RIA Novosti.
David Martin of the Scottish Retail Consortium has welcomed an announcement that £850m ($1.4 billion) is to be invested in the redevelopment of the center of Edinburgh, delivering a major boost to the Scottish economy.
“It has been unfortunate that for many years whilst the shopping and retail experience on offer in Edinburgh has been good, it could have been better,” Martin told RIA Novosti.
“Edinburgh is a great tourist destination and one of the top things tourists come to Scotland for is retail and for shopping,” Martin added. “This redevelopment will mean more jobs, which is great for the economy and will certainly encourage more people to come to Edinburgh for an unparalleled shopping experience.”
The redevelopment, one of the biggest seen in Scotland, will cover over 450,000 square feet (42,000 square meters), comprise of premium office space, a five star hotel, a theatre and will include 138 exclusive apartments. It will also lead to the creation of 2,300 permanent jobs.
Director of Development for TH Real Estate, Martin Perry, who will manage the project, added “this scale of investment is unprecedented in central Edinburgh and will transform the city’s retail offer, putting it on the international ‘map’ of major shopping destinations.”
Retail is the largest private sector employer in Scotland, employing over 246,000 people.
