The university is planning to rebuild student accommodation on its Fallowfield campus, with 3,000 new rooms.
The university first called for bids for its Fallowfield Student Village project back in June 2015 but scrapped the process in May 2016 when all the tenders came in beyond budget. It therefore restructured the work into phased packages and went out to tender again in October 2016.
Phase 1, to be built by Carillion, consists of 1,122 cluster-flat study bedrooms arranged in eight accommodation blocks together with an energy centre, student amenity hub and associated landscaping provision.
The cluster blocks are typically four-storey residential units in various configurations, with 10 bedrooms and a kitchen area on each floor.
Carillion will develop final design and construction proposals, ahead of contract signature and a start of construction planned for August 2017, with completion scheduled for summer 2019.
Demolition and replacement of the existing Oak House buildings and The Limes will then follow on as phase two, valued at £95m. The £65m third phase should start in April 2021; this involves the demolition of existing Owens Park buildings and building 896 cluster flat study bedrooms. The existing accommodation at Ashburne Hall, Sheavyn House, Richmond Park and Woolton Hall will be retained.
The university secured a finance deal with Abu Dhabi-based Mubadala Development Company for the project in 2014.
Carillion chief executive Richard Howson said: "Being selected for this project reflects our reputation for delivering to high-standards of quality and health and safety and our ability to design and deliver sustainable solutions for our customers. We look forward to working with the university to deliver phase 1 of the Fallowfield Student Residences project to support its objective of providing an excellent student experience."