Balfour Beatty is poised to pick up a 50-year contract to design, build, finance and operate a major residential contract for the University of Sussex.
The construction firm has been appointed the preferred bidder for the project, which will replace a 600-bed facility on the university's campus with a new 2,000-room site.
The new site will be formed of a range of formats including townhouses, and some bedrooms will have ensuite bathroom facilities. The East Slope project also includes “innovative” student amenities such as social hubs and a new student union.
Construction will begin in 2016.
Balfour Beatty's group chief executive Leo Quinn said: "Following the revaluation of the portfolio last week, this project demonstrates the continued value our Investments business brings to the whole Group. We look forward to supporting the University with their growth ambitions and delivering on their sustainability targets."
The group will report its 2014 full-year results on Wednesday 25 March 2015.