Manchester Place and The Co-op have appointed The Far East Consortium International Ltd (FEC) to develop key sites close to Victoria Station.
The agreement will deliver more than 600 new homes as part of the NOMA neighbourhood and reinvigorate the historic Angel Meadow park.
Totalling 2.37 acres (0.96 hectares) across four individual sites the new homes will be for both sale and rent and will include a landmark tower.
FEC is a Hong Kong based international property development company which has delivered projects in Australia, Malaysia and Singapore as well as mainland China and Hong Kong.
It recently won planning consent for Alpha Square in London, a scheme that will deliver 700 apartments, a new school and new health hub, hotel and pocket square.
The Angel Meadow agreement was confirmed with a visit to Manchester by FEC managing director Chris Hoong, who met Manchester City Council leader, Sir Richard Leese, Manchester Place chief executive Paul Beardmore and David Pringle, director of NOMA at the Co-op.
Mr Hoong said: “This is one of the most exciting residential opportunities not just in Manchester but in the UK right now and we are very proud and excited to be working with NOMA and the city council.
“We have assembled a team with the skills to deliver a new neighbourhood of international caliber and we would like this to be the start of a long relationship with the city.
“We have the knowledge and expertise to develop and deliver multi billion mixed use landmark schemes and we believe Angel Meadow will be another successful addition to our international portfolio.”
David Pringle, director of NOMA at The Co-op, said: “This is a great step forward for the second phase of residential development at NOMA. The Angel Meadow sites have the potential to redefine city centre living with the added benefit of being situated around a reinvigorated green park.
“With Moda Living’s Angel Gardens scheme also on site this year, NOMA will be providing an outstanding residential offer that supports our plans already underway to create a truly mixed use neighbourhood.”
NOMA is a key city centre location and the Angel Meadow plots mark the first phase of the Northern Gateway, a sweep of land from Victoria station north taking in New Cross, The Irk Valley and Collyhurst which in total has the potential for a new neighbourhood of 7,000 homes supported by social infrastructure.
It has been identified by Manchester Place as one of the major residential growth areas for the city.
Manchester City Council leader Sir Richard Leese welcomed FEC to the city and said: “This is exciting and positive news and we look forward to working with FEC to create new places to live. Manchester continues to grow at pace and we need more high quality homes to sustain that growth.
“This is an important site, close to good transport links, that will help unlock the further residential potential of the Irk Valley and wider Northern Gateway.
“I look forward to seeing detailed plans for homes for sale and rent and improved public realm around Angel Meadow itself.”
Paul Beardmore, chief executive of Manchester Place said: “This announcement demonstrates the value of Manchester Place in being able to bring together international investors, the City Council and land owners in the city in order to broker a significant residential investment and we are pleased to see it come to fruition.”