The £4.5million stand boasts 20 high-spec corporate boxes, 532 premier seats, plus full bar and restaurant facilities.
Commenting on the new stand at Ravenhill, Ulster Branch President Cecil Watson said: "Our new stand not only provides a panoramic view of the playing area, but also offers a quality club atmosphere for families as well as corporate members.
"The first-class catering facilities are easily accessed from the premier seating area, enhancing the matchday experience for our supporters.
"I believe that Ravenhill now provides first class corporate entertainment and is a leading sports venue in Northern Ireland."
Ravenhill was certainly rocking last Friday night when Brian McLaughlin's Ulster side opened their Heineken Cup campaign with an impressive 26-12 victory over Bath. 10,914 spectators were present at the Belfast ground.