A wholly owned subsidiary of Stewart Milne Group, CDL oversees the development of land at the new town of Countesswells which was ultimately intended to extend to 3,100 homes over 400 acres.

The emerging community of private residential developments and affordable homes also includes schools, retail, commercial and leisure facilities.

Around 900 affordable and private properties and several commercial properties and community facilities have been built or are under construction by a variety of residential, commercial and public sector operators who are developing the sites in line with the masterplan.

A spokeswoman for CDL told the Press & Journal: “We are extremely disappointed that CDL, set up to deliver Countesswells, one of the most visionary and environmentally pioneering new communities in the UK, has been placed into administration.

“We firmly believe in the future of the project and will, of course, co-operate fully with the administrators to help ensure that the vision, which many people share for Countesswells, is realised.”

She added: “We firmly believe in the future of the project and will, of course, co-operate fully with the administrators to help ensure that the vision, which many people share for Countesswells, is realised.

“In the meantime, all existing construction work on the affordable homes at Countesswells will continue, and these homes will be completed and ready to move into as planned.”

Tom MacLennan, Iain Fraser and Chad Griffin, partners with FRP Advisory, have been appointed joint administrators.

Tom MacLennan said: “Our immediate priority will be to secure the site and finalise current construction, including completion of much-needed affordable housing projects. We will be reviewing the various land bank assets in line with the development plans and will work closely with the various stakeholders on the future development of the site.”

Just last week a sod-cutting ceremony marked the official commencement of work on the new £17 million Countesswells School and Nursery.

Aberdeen City Council said it “remains committed” to delivering the new school.

In 2016, the UK Government committed £86m to the project as a state-backed guarantee to help the development access finance.

A spokeswoman for the Treasury said: “We regret that the Countesswells project has entered administration.

“The UK Government will stand behind the guarantee that supported the development.

“We will work with partners, including Aberdeen City Council, to minimise any impact on the local area.”