The project, on Marionville Road, near Meadowbank Stadium, is scheduled for completion in early 2017 and is being supported by a £7.7 million funding package from Bank of Scotland.

MNM said the 51 apartment development will bring 50 new job opportunities to the area, with the company opting to use local subcontractors exclusively and bring its engineering function in house.

To support with the build, the business has invested in new equipment, including a crane, funded by an £120,000 asset finance facility from Bank of Scotland.

Each of the 51 apartments will have a steel frame, solid concrete floor and triple glazed windows. The development will also feature a basement car park.

Marc Teague, director at MNM Developments, said: “It been an exciting year for us so far and we’re looking forward to providing a great selection of modern, high quality homes so close to the city centre.

“Meadowbank is a fantastic place for families and those looking to invest in property and we hope that the project will help support the area’s bright economic outlook.”

Graham Dunlop, relationship director at Bank of Scotland, added: “This is the fourth project we have supported Marc and his team with and we’re confident it will be another major success.

“Residential property is an important sector for Bank of Scotland and we’re committed to providing tailored support to meet the individual growth strategies of our customers in the industry.”