Planners have given the go-ahead for a £1bn scheme which will provide 2,000 homes near the centre of Belfast.
Environment Minister Arlene Foster said the second phase of the Titanic Quarter project was a "major confidence boost".
The scheme, the largest ever dealt with by the Planning Service, provides about 3m square feet of new floorspace.
Chief Executive Mike Smith said 20,000 jobs would be created over 15 years as the shipyard wasteland is transformed with new homes and a tourism centre.
"At 3.3m sq ft, it's the largest ever planning application approved in Northern Ireland," he said.
"It has about 3,000 sq ft residential and and about one million sq ft of business space, including the Titanic Signature Project.
"Our aim is to have all of phase two complete by 2012."
25,000 jobs in 15 year period
Phase 2 site covers 16.5 hectares
200,000 sq m of residential development
37,000 sq m for employment uses
Maximum of 5,000 sq m for offices
23,000 sq m for leisure facilities
11,300 for tourism, including Titanic Signature Project
5,500 sq m for local services
15,000 sq m for parking
Entire Titanic Quarter site covers 75 hectares
Ms Foster said the project would provide "a major boost to Belfast".
"It is a further indication that Northern Ireland is leaving its troubled past behind," she added.
Proposals for the development of the 16.5 hectare site include plans for office, cultural, employment, tourism and leisure space and room for up to 2,000 houses.
At the heart of the scheme will be the Titanic Signature Project which showcases the city's maritime and industrial heritage.