The Dundee project, spanning 240 hectares of land stretching 8km along the River Tay, is the figurehead for the ongoing regeneration of Dundee. It has been shortlisted for Regeneration Project of the Year, and will battle against Longbridge Town Centre in Birmingham and MediaCityUK in Manchester, the home of BBC North, ITV and Coronation Street.

The potential investments on Dundee Waterfront feature in the Scottish Cities Alliance’s £10bn Investment Prospectus, an online catalogue of available investment opportunities across the seven cities of Scotland. Dundee is part of the Alliance, a collaboration of Scotland’s seven cities and the Scottish Government working together to deliver economic growth.

Mike Galloway, director of city development at Dundee City Council, said: “As well as recently being named the coolest city in the UK, we’re pretty certain that Dundee is also the most exciting at the moment. The regeneration continues to progress to plan and to schedule. A number of new buildings are being developed, including H&H Properties’ residential development, the new railway station and V&A Dundee. A growing number of investment enquiries from businesses and entrepreneurs – many new to the city – should result in a range of new enterprises opening during the next few years.

“We might not have Coronation Street’s famous cobbles, but we believe there’s more than enough inspiring infrastructure in our own bid to excite the judges.”

The winners will be announced on 22 October, during MIPIM UK, the largest gathering of the country’s most powerful property professionals which takes place in London.