Firms selected for the various building lots can also be used by other councils in the capital who sign up to the agreement.

Unlike more traditional framework routes, the dynamic purchasing system allows new companies to join the preferred list at any time.

Selected contractors will be used to deliver a host of projects from mixed-tenure housing to schools, regeneration scheme and general public building projects.

Each of these key work lots are also being split into value bands covering minors works to major building schemes

These cover the smallest projects up to £500,000, projects from £500,000 to £5m, £5m to £15m and major projects worth more than £15m.

The delivery on new housing is expected to account for around £2.9bn spending through the firms over the next 10 years, with schools, regeneration and general building lots each worth around £1.8bn over the duration of the agreement.

The new long-term arrangement will come into force from October 2021 and run to 2030.

Interested firms have until 10 August to express an interest through the procurement portal.