The Court of Session has rejected an appeal which could have delayed redevelopment of the old Ravenscraig steelworks site in North Lanarkshire.
The Ravenscraig site is to be transformed
Two property developers objected to plans for the 1,100-acre site including 3,500 houses, an industrial park and a large retail centre.
In a statement, the companies said they were disappointed by the court's decision.
Scottish Enterprise said it was delighted to continue with the project.
The British Steel works at Ravenscraig shut in 1992 and the site was cleared four years later.
Standard Life and Land Securities raised concerns about the effect a new shopping centre would have on Hamilton and East Kilbride, if the new development at Ravenscraig went ahead.
But Lord Kirkwood, who heard the case with Lord Marnoch and Lady Cosgrove, rejected the appeal.
Lord Kirkwood said: "I do not consider that any of the decisions taken by the Scottish ministers in relation to the matters in dispute were perverse or irrational, or failed to have regard to a material consideration."
The firms did not object to the proposal to regenerate Ravenscraig, but were concerned at the amount of retail floor space - 30,000 square metres - in the scheme.
Lord Kirkwood said: "The approach of the appellants was that the proposed retail development at Ravenscraig had to be treated as an out-of-centre development in respect that it was on a large brownfield site which was, as yet, undeveloped, and no town centre was in existence.
"In my opinion, however, that approach was quite unrealistic and ignored the fact that the retail component was only proposed as part of a comprehensive redevelopment and as part of the new town centre, the new town centre uses, including the retail component, to be phased in line with the overall development of the Ravenscraig area.
"It has not been suggested in the alteration that any of the retail development should proceed on its own."
Ravenscraig was closed in 1992 and demolished four years later
He said there was a commitment by local councils to promote the regeneration of Ravenscraig.
A spokesman for Scottish Enterprise Lanarkshire said it was delighted by the court's decision and said the redevelopment would create 12,000 jobs.
The group's Pamela Woodburn said: "This is a landmark project for Lanarkshire and today's good news allows us to proceed to delivery.
"The development will bring thousands of new jobs to the Motherwell and Wishaw area, which will benefit both local residents and businesses."