Set for vacant land near the airport’s Hilton Hotel and the main A8 road, the 90-acre International Business Gateway scheme has been in the pipeline for more than a decade.

The project will eventually boast around 122,000 square metres of commercial and business floor space, nearly 400 new homes – 25% of which would be affordable – 1,150 hotel bedrooms and at least 5,000 square feet of shops, restaurants and leisure facilities.

The proposed development is being driven by a consortium consisting of Murray Estates, Frogmore Property, New Ingliston Limited and Salmon Harvester Properties.

They said 7N Architects’ masterplan for the site had evolved over many years of collaborative working with the city council.

Jestyn Davies, managing director of Murray Estates, said: “This development will be great news for Edinburgh and for Scotland as a whole.

“The thousands of jobs we will create here will be a huge benefit both to the city and to the many people who will commute from other parts of the country. For many people, this area is their entry point into Scotland and as such it needs a world-leading centre for business, commerce and retail.

“With co-operation from others we can get this ambitious development under way and deliver all the benefits that it will bring to the city, including a tremendous boost to infrastructure.”

Around 12,000 new jobs could be created if the development gains full approval from the council.