Aberdeen City Council has named its main contractor for the new market, which will be operated by The McGinty's Group.
One of Scotland's leading construction businesses, Morrison Construction, has been announced as the main contractor for the new multi-million pound project.
The company plans to work alongside other local firms for sub-contracting work in order to deliver a world-class attraction for the North-east.
The new project will improve connectivity between the Granite Mile and the bus and railway stations via The Green and enliven Hadden Street and Market Street with urban realm improvements in and around The Green.
It's hoped that the new market will open in 2025.
Levelling-up Aberdeen
The City Council is to receive £20million from the UK Levelling Up Fund which will be used towards the development of the new market building and nearby streetscaping.
Cllr Christian Allard, Co-leader of Aberdeen City Council, said: "We welcome a Scottish company has been chosen to be the main contractor for the site.
"Morrison Construction has also delivered two recently-built new primary schools for the City Council so will know the area well and how important this new attraction is to the revitalisation of Union Street."
Cllr Ian Yuill, Co-leader of Aberdeen City Council, said: "The market development will create a vibrant and exciting new destination for people to visit in the city centre, as well as create an improved connection between Union Street, The Green, and the bus and train stations.
"It is good a Scottish company is to be the main contractor for the new market which will provide a range of food and drink outlets, providing a boost to the local economy as well as helping Union Street and the city centre continue to move forward."
Colin Milne, project director for Morrison Construction Building North East, said: "We are delighted to be delivering the new Aberdeen Market, on behalf of hub North Scotland/ Aberdeen City Council, as part of the Aberdeen City Vision project for the regeneration of Union Street.
"We look forward to working with all the stakeholders involved to create another high-quality landmark public facility for the people of the city, following our recent successful projects at Countesswells Primary School and the Torry Community Hub."
Richard Park, chief executive, Hub North Scotland, which is Aberdeen City Council’s development partner for the project, said: "We are delighted to appoint Morrison Construction North East to this landmark project.
"They have a proven track record for delivering top quality buildings and an excellent local supply chain. We look forward to working with them not only in constructing a superb market building but also delivering positive and meaningful community benefits and social impact during the works."