Land reserved for a super casino in Glasgow is to be redeveloped after the city's bid failed.
A car park, hotel and offices will be built near to the Scottish Exhibition and Conference Centre (SECC).
Macdonald Estates will lead the project, which will part-fund the construction of a £66m Scottish National Arena seating 12,500 people.
The proposal, subject to planning permission, would not preclude building a casino on the site, developers said.
Mike Closier, group chief executive of the SECC, said: "Our main objective has been to raise funds to build our arena and Macdonald Estates has produced a great plan that will contribute towards the financing of its construction."
Work on the multi-storey car park will begin in 2008, with a one-year build.
Building work on the office accommodation will begin in 2009 with a finishing date of 2010, followed by work on the hotel, commencing in 2010 and due for completion in 2011.
Manchester won the right to house the UK's first super casino.
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