The contract will see Engie provide an initial £55m redesign and refurbishment of existing student accommodation, followed by a 50-year facilities management and lifecycle contract worth a further £140m.
Engie will take an equity stake in the project, alongside infrastructure investment firm Equitix. Engie will also carry out interim FM services during the refurbishment phase.
The 1,332 rooms of the university's Kingston Hill and Seething Wells halls of residence will be refurbished, along with communal areas. Additionally, Engie will provide reception management and janitorial services.
Refurbishment and building work are likely to start in June 2019, with an expected completion date of August 2021.
Keith Brennan, Kingston registrar and university secretary, said that Engie’s bid for the contract “shone through, underpinned by the clear enthusiasm of the team involved”.