It will be the highest building that the contractor has ever put up in the UK.
The Providence Tower is the final element of the New Providence Wharf residential community being developed by Landor, a subsidiary of The Ballymore Group. It has been designed by Skidmore Owings & Merrill.
Balfour Beatty said that it will use sustainable construction methods including modularised mechanical and electrical services, constructed off site and delivered just in time, to reduce on-site construction timescales and the number of vehicle movements to and from site.
Chief executive Andrew McNaughton said: "Providence Tower is a great example of the big, complex building projects where Balfour Beatty excels. It allows us to bring together our experience and include sustainable and innovative solutions to create high quality living spaces for communities."
There will be 484 apartments in total, with 343 in the main tower and the remainder in a 12-storey curved podium adjoining the tower.
Main construction works are expected to start this summer and are programmed for completion in December 2015.
Balfour Beatty's current portfolio of construction and civil engineering projects in London includes the Kings Cross T6 student accommodation tower for Urbanest, the legacy conversion scheme of the London Aquatics Centre for the London Legacy Development Corporation and the Sixty London commercial project for AXA Real Estate. It is also redeveloping Blackfriars Station for Network Rail and the Liverpool Street and Whitechapel Station platform tunnels for Crossrail.