The Glasgow Affordable Housing Supply Programme will help to deliver 743 homes towards the council’s commitment to build 3,500 affordable homes by May 2017, and contribute towards the People Make Glasgow Home initiative to facilitate 25,000 new private and affordable homes by 2025.

In addition, the investment programme is expected to generate an additional £73m in the construction industry, with the creation of new jobs, apprenticeships and training places.

Bailie Liz Cameron, executive member for economic development, said: “Glasgow City Council has given a commitment to build 3500 homes by 2017, and a total of 25,000 by 2025. The investment of almost £73m in 2015/16 takes us another step closer to those targets and will provide 743 new, good quality and sustainable homes across the city.

“This investment is also expected to make a significant contribution to the city’s economy, generating a further £73m in the construction industry, bringing the potential for new jobs, apprenticeships and training opportunities. The creation of these new homes will also help us achieve our goals of building strong and resilience neighbourhoods and communities. They’ll also help us meet our sustainability ambitions as the homes will have high energy efficiency, resulting in low carbon emissions and low running costs for residents.”