Housing, regeneration and industrial and commercial projects backed by the Building Scotland Fund have topped £100 million in value.
The Scottish Government fund established as a precursor to the Scottish National Investment Bank is set to run for three years and is aimed to total £150 million in public funding.
Economy Secretary Derek Mackay MSP marked the milestone with a visit to see progress made on the refurbishment of the 55 Douglas Street office development in Glasgow, which has had £12 million from the fund.
Mackay said: “I am delighted that the Building Scotland Fund has now agreed investments of £100 million, unlocking projects in excess of £238 million and providing a significant boost to the Scottish economy.
“This milestone is an important step not only for the Building Scotland Fund but also lays a strong foundation for the Scottish National Investment Bank – paving the way for it to become a cornerstone institution for Scotland’s economy.”
He said that a total of £25 million was being invested in projects through the SPRUCE urban regeneration fund including the high-spec refurbishment of 55 Douglas Street.
The Building Scotland Fund had also agreed investments of £75 million in a range of housing projects of varying sizes.
The minister said that this was supporting the development of more than 5,500 homes and around 600 full-time jobs.
Gareth Richardson, director of asset management at Signal Capital, owner of 55 Douglas Street, said: “The funding we have received through the BSF has been invaluable.
“Without that level of investment we would not have been able to maximise the potential of the building by creating a 10,000 sq ft extension, providing larger floor plates and a complete transformation of the front exterior.
“This much needed additional space will help address Glasgow’s critical shortage of high quality office accommodation, enabling the city to attract and retain occupiers which in turn encourages economic growth.”
