Bellway, whose shares rose 25p to 1,690p on the news, is to build 5,000 homes and community facilities for Leeds council as part of a £1.2bn joint venture.
GP surgeries and schools will be included in the 20-year deal.
Bellway will pay for the council land in stages as it builds the homes, with the money raised used to build the community facilities.
Bellway is in talks for a larger scheme in Barking,
The Independent is bullish on the stock and advises people to buy.
