The 90-acre International Business Gateway is being led by a consortium comprised of Murray Estates, New Ingliston, Frogmore and Salmon Harvester.

The project’s prospects are boosted by the completion of the tramlink between the airport and the city centre, with the current Ingliston Park and Ride station designated as the focal point of the development.

Designed by 7N Architects in collaboration with landscape architects Horner+Maclennan, developers believe the masterplan will safeguard a possible future westward tram extension to Newbridge.

Murray Estates director, Jestyn Davies, said: “Everyone is aware of the diminishing levels of grade A space in the city centre, which in turn is leading to higher rents at Edinburgh Park. International Business Gateway should help to ‘balance’ rental levels for quality office accommodation in Edinburgh , which is essential to attracting both investors and tenants.”

Martin Dalziel, director, New Ingliston, said: “It is extremely unusual, with a proposal of this type and of this scale, for high-end transport infrastructure to be already in place and fully operational before the first turf is cut. The seamless link the trams provide to Edinburgh Park the central business district and both main railway stations will in itself help generate investor and occupier interest.”

“If approved, IBG will attract investment from both the UK and overseas and should lead to the creation of thousands of new jobs, the first of which will be in construction with more permanent ones following as the masterplan takes physical shape and becomes reality.

“This is a long-term plan, perhaps with a timescale of 30 years when the second phase is also taken into account. We too are in it for the long-term. With Edinburgh’s economy predicted to grow, we are committed to working in tandem with that growth and not trying to shoot ahead of it.”

Councillor Frank Ross, convenor of the economy committee on the City of Edinburgh Council, added: “This is an exciting opportunity to deliver a flagship development that will help accommodate the city’s continued economic growth.”

Once fully complete in 2045 the district will stretch to 2.25m sq/ft of floor space on 90 acres of land.

If approved, the work could begin as early as mid-2017.