To date, the 1.7m sq ft scheme has sourced £24 million of construction value locally – from within 100 miles of the project.

In addition to this, from just over 1,000 people inducted on site since demolition began, 78% have been employed from the local area, ensuring that employment opportunities have been delivered for local people.

Designed by Allan Murray Architects, the scheme will see the 1970s shopping centre replaced with 850,000 sq ft of retail space, a luxury hotel, up to 150 new homes, 30 restaurants and a multi-screen cinema.

Upon completion, the development is anticipated to deliver over 3,000 new full time jobs in a variety of sectors, further supporting the city’s job market.

Martin Perry, director of development at TH Real Estate, said: “We are delighted with the substantial demolition progress already made on site and the significant positive economic contribution the scheme is making to the city, even at a relatively early stage of the development. These new figures are a real testament to this, and our ongoing commitment to put Edinburgh first, from construction through to the operation of the completed scheme in 2020.”