Mohammed Mirza's AHY Group bought the site on Ballater Street in the Gorbals area of Glasgow in 2010.
The first completed retail unit was rented by Mr Mirza at the end of last year as an expansion of the Nisa convenience stores he runs in the city and which employ more than 60 people.
Now he has finished building the other retail units and offices on the site and has secured the first tenants.
Accountancy firm Richard Beattie has taken an office while bookmaker Betfred is also moving in.
Mr Mirza, who has residential and commercial property interests across Glasgow, confirmed the other retail units had been rented to takeaway food outlets which should open before the end of the year.
He said: "It was a pretty dilapidated site so we are pretty pleased with how it has gone.
"This development is proving to be a superb addition to our rental portfolio.
"It is a great part of the city which has undergone a lot of redevelopment in recent years."
Mr Mirza secured six-figure backing from Bank of Scotland for the development as well as putting in a substantial sum of his own.
Grahame Andrew, from the bank, said: "Mohammed Mirza has developed a great reputation within the Glasgow property sector for the quality of developments he has undertaken and his ability to successfully transform sites in desirable premises. It's a testament to his business acumen that he continues to operate successfully in an uncertain market."