Construction information specialist Glenigan said BAM, Lendlease and VolkerFitzpatrick are in the running for the main contract.
The new film and TV studio is being developed with the backing of Sky’s owner Comcast and in partnership with sister-company NBCUniversal.
Legal & General will be financing and developing the scheme which is located in the borough of Hertsmere, north of London.
Work to clear the site ready for construction now begins this month by local specialist Kane Group.
It is anticipated building work will create 900 construction jobs.
Sky Studios Elstree will become the most sustainable film and TV production site in the world when it opens in 2022.
As part of the design process, the businesses have actively looked at all sustainable development opportunities, with the project set to use reduced embodied carbon in construction.
It is expected that Sky Studios Elstree will have the capability to generate 20% of its own energy on site through solar energy. No gas or fossil fuels will be used to power day-to-day operations and Sky will also harvest rainwater for use on site.
Sky Studios will not allow any single-use plastics in Sky operations and has planned for how cast and crew will use the studio on a day-to-day basis, including green spaces and landscaping across the site.
Caroline Cooper, Chief Financial Officer, Sky Studios, said: “Even during challenging economic times, Sky Studios Elstree represents Sky’s continued commitment to the UK’s cultural economy, as well as our goal to recruit, train and develop the leading creative talent of tomorrow.”
Nigel Wilson, CEO, Legal & General, said: “This is a critical investment for the UK’s bounce back.
“Landmark construction projects are rocket fuel for the economy and investing in our creative industries has never been more important.”