Construction of the facility in the Energetica Corridor began with a turf-cutting ceremony at The Core at the Bridge of Don in Aberdeen.
The 100 acre site will accommodate more than 1.5m square feet of office, industrial, and distribution space.
It is being developed by Mountgrange Investment Management LLP and Generate Land.
Construction is expected to commence in January.
The council says the development will use renewable technologies in the new units and the buildings are rated as "excellent" in standards set by the Building Research Establishment Environmental Assessment Methods.
-- Advertisement --
Aberdeen City Council leader Barney Crockett welcomed the development.
He said: "Aberdeen is Europe’s energy capital and a leading world energy city which plays a vital part in the Scottish and UK economies. It is essential that we as a council continue to demonstrate that we can react quickly to the demand for more and better business space as we have done at The Core.
"It is very encouraging that a London property fund like Mountgrange is investing a substantial amount of capital to provide a state-of-the-art development at The Core. We hope their example will encourage other developers to follow.
"Aberdeen has recently come top of several surveys and reports as one of the strongest cities in the UK, one of the few to continue expanding throughout the recession, and one of the best in which to work, live, learn, visit and do business.
"Interest in investing in Aberdeen continues to be strong. This really is a city which is open for business and which is continuing to grow and flourish."
Generate Land CEO Tony Brooks added: "We specialise in creating high-quality energy-efficient communities using sustainable building techniques and we are both very confident that the units provided on The Core will significantly reduce both carbon emissions and occupier running costs."
(IT)
