Part of the SECC, the building will host around 140 events a year, attracting an audience of one million visitors.
Once up and running, it has the potential to inject an additional £131m annually into the local economy.
John Sharkey, chief executive of the SECC said he is already in discussions with a number of "major artists" to form part of the opening program.
Electricity supplier Scottish Hydro won the naming rights to the venue last year. It is committed to investing £1.5m per year over the next ten years into the venue.
Sharkey said "additional partnerships" with "leading brands" are in the process of being confirmed.
The project is being led by construction company Lend Lease and architects Foster + Partners.
The SECC was recently ranked 13th in Pollstar’s list of the Top 100 Worldwide Entertainment Venues in 2012.
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