The deal will deliver more than 600 new homes as part of the NOMA neighbourhood across four sites totaling 2.37 acres .

Homes will be for both sale and rent and will include a landmark tower.

FEC recently won planning consent for Alpha Square in London.

The Angel Meadow agreement was confirmed with a visit to Manchester by FEC managing director Chris Hoong.

Hoong said: “This is one of the most exciting residential opportunities not just in Manchester but in the UK right now and we are very proud and excited to be working with NOMA and the city council.

“We have assembled a team with the skills to deliver a new neighbourhood of international caliber and we would like this to be the start of a long relationship with the city.

“We have the knowledge and expertise to develop and deliver multi billion mixed use landmark schemes and we believe Angel Meadow will be another successful addition to our international portfolio.”

NOMA is a key city centre location and the Angel Meadow plots mark the first phase of the Northern Gateway, a sweep of land from Victoria station north taking in New Cross, The Irk Valley and Collyhurst which in total has the potential for a new neighbourhood of 7,000 homes supported by social infrastructure.

Manchester City Council leader Sir Richard Leese said: “This is exciting and positive news and we look forward to working with FEC to create new places to live. Manchester continues to grow at pace and we need more high quality homes to sustain that growth.

“This is an important site, close to good transport links, that will help unlock the further residential potential of the Irk Valley and wider Northern Gateway.

“I look forward to seeing detailed plans for homes for sale and rent and improved public realm around Angel Meadow itself.”