The works comprise the installation of rainscreen overcladding with external thermal insulation to tower blocks located at Seaton.
The revamp job also includes new roofs and window replacements, with the first phase of works expected to start in 2014/15.
A second phase has been earmarked to take place between April 2016 and September 2018.
The council agreed a programme of works at three multi-storeys back in 2010, but did not have the cash to complete the remaining seven upgrades.
For more information visit the Public Contracts Scotland Web Site.