As development partner, Countryside will raze and rebuild the Cambridge Road Estate estate delivering around 2,000 new homes over the next decade.
Countryside, which beat rival bidders The Pinnacle Group and Places for People Homes to the deal, will now work up details of the scheme to sign a contract by March next year.
Plans to demolish and rebuild the 820-home estate, which is the largest in the borough, have been in the offing since 2015.
Graham Cherry, Chief Executive of Countryside Partnerships South said: “We are thrilled to have been selected and look forward to working with Kingston Council on the next stage of the procurement process to finalise the contracts for this vitally important project.
“We have been impressed with the level of commitment from the council and residents in conducting this competitive process.”