A multimillion-pound waterfront development in Dundee could help make the city a vibrant centre for business.

At the official opening of the Dundee One office complex yesterday, MSP John Swinney said it could attract big-name companies to the city.

The £18million development was opened a week after nearly £10million was pledged to help redevelop the growing business district on the banks of the Tay.

Dundee One consists of two separate blocks – River Court, which is now open for businesses to let, and City Court, which has been taken over by the Scottish Police Services Authority.

The SPSA moved into the purpose-built forensic facility last month. It now houses its DNA database, biology and chemistry laboratories, fingerprint and scene examination units.

Finance Secretary Mr Swinney addressed guests from Dundee’s property industry at the opening ceremony for River Court yesterday.

He said: “Dundee is fast becoming one of the UK's most vibrant destinations for business, study and leisure.

“The Dundee One development addresses a shortage of high-quality city-centre office space and contributes significantly to the regeneration of the waterfront.

“It plays an important role in helping the city to realise its ambitions and achieve important economic growth.

“It is an honour to open River Court and signal the completion of the Dundee One development.”

Unicorn Property Group, which is based in nearby Camperdown Street, is behind the development and is also involved in several other waterfront projects, including the sale of the A-listed Customs House building in Dundee.

Tim Allan, director of the group, said: “This marks a significant move for business in Dundee and Scotland and we hope this development can play a part in the future of Dundee’s economic prosperity as we come out of a recession.

“We hope that by providing high-quality office accommodation with breathtaking views and top-class facilities, Dundee One will showcase to blue-chip businesses the capacity of the waterfront location to revive itself as a hub for enterprise in Scotland.”

Last Monday Mr Swinney pledged £3.8million to accelerate work on the Dundee waterfront project.

The 30-year redevelopment of the area will include a specially-built platform jutting into the Tay to provide a home for a £47million Scottish offshoot of London’s Victoria and Albert museum.

On Wednesday, Dundee City Council and Scottish Enterprise announced a £6million project to remove and replace the off ramp at the Tay Road Bridge.