Wates Construction has won a £14m contract to redevelop Bolton Market Place for Inception Holdings.
Planning permission was granted by Bolton Council this month and work will start on site in June.
The contract will see Wates Construction build a new leisure and retail complex, including a 30,000 sq ft cinema complex; internal renovations of existing malls; and the installation of additional escalators and lifts.
The contractor will also restore Victorian vaults underneath a shopping centre to create new restaurant, bar and retail spaces.
The scheme is expected to finish in spring 2015, following a 44-week build programme.
The project has been designed by Wren Architects.
Wates Construction North West business unit director, Tony Shenton said the company was preparing to start construction alongside the fully operation shopping centre, aiming to cause minimal disruption.