The planned student scheme, known as Perryian Works, will be located at 1 Lancaster Circus and and involves building towers rising to 40 and 50 storeys.

The proposals will support the continued growth of nearby universities, with Aston and Birmingham City University only a short walk away.

Plans are now out for public consultation and include the delivery of a variety of amenities, including active frontages at street level for commercial, or leisure uses.

Bilal Ahmed, chairman  and founder at Sama Investments, said: “We will deliver much-needed student accommodation to support the vibrancy of our growing universities in Birmingham.

“Our plans also offer street-level community uses and green space for residents and the wider community to enjoy. This is supported by a pedestrian corridor that will connect parts of the city to this area.

“We’ve worked closely with partners to ensure this exciting project delivers true value for the area. We look forward to continuing our progress with the city and our partners to deliver Perryian Works in the coming years, driving local growth, and creating hundreds of jobs in the process.”

A £500m equity injection was secured from the Far East by Sama in March, which will support the delivery of purpose-built student accommodation and residential schemes across Birmingham and the West Midlands.