The expansion programme includes the regeneration of its existing Singleton Park Campus as well as the construction of a new Science & Innovation Campus.
The University yesterday announced that it had secured £60m funding from the European Investment Bank towards the development programme, plus a further £30m from Welsh Government and the Wales European Funding Office (WEFO).
St Modwen is lined up as developer for the university, with Vinci as its construction partner.
Work is expected to start on site in early 2013 and the new campus and new student residences will be occupied by autumn 2015.
The new Science & Innovation Campus will co-locate the cniversity’s College of Engineering and School of Business & Economics.
Vice chancellor Prof Richard Davies said: “The new Science & Innovation Campus is a transformational project for Wales and for the university. It promises to become a global exemplar for how a research intensive university can work effectively with industry, helping to drive economic regeneration and creating exciting employment opportunities for its graduates.
“The new facilities, world-leading research, and well-qualified graduates, will attract multi-national companies and support the development of high-tech clusters in the region."