Student infrastructure specialist University Partnerships Programme is responsible for the design, build, funding and operation of the scheme.
Vinci Construction will build the scheme with work due to start early next year.
The multi-block development will comprise 1,182 bedrooms and will be the University’s largest on-campus accommodation build since 2012.
It forms part of a plan to create an additional 1,500 bedrooms in total.
The new accommodation is set to open in two phases from September 2020 and September 2021.
Sean O’Shea, Group Chief Executive Officer of UPP, said: “This news is a testament to the strength of our existing bespoke, long-term partnership with the University.
“Since 2009, we have delivered and operated circa 2,500 high-quality and affordable purpose-built student residences on campus.”