Major developers involved in the development pact include Berkeley, Taylor Wimpey, Urban&Civic, Hallam Land and Gallagher Developments, alongside the Bristol Society of Merchant Venturers and the Milton Keynes Development Partnership.

Together, the group controls land capable of delivering around 40,000 new homes, alongside the transport, utilities and community infrastructure required to support long-term growth.

The memorandum of understanding brings together the city’s biggest landholders in a united push to unlock investment, accelerate infrastructure delivery and ensure large-scale expansion is planned and delivered in a joined-up way.

The partnership follows recommendations from the New Towns Task Force and is designed to give Milton Keynes a single, powerful voice when engaging with government and national investors.

Developers said the agreement would allow future schemes to work harder for the city by aligning delivery timetables, supporting high-quality and sustainable regeneration in the city centre, and strengthening local skills pipelines and supply chains.

A coordinated approach to promotion is also planned, with the partnership set to present a joint presence at the UK Real Estate Investment and Infrastructure Forum and step up engagement with Whitehall as the New Towns programme takes shape.