The investment in 55 acres of land will see the housebuilder increase the number of its current developments from six to nine, subject to planning permission, over the next six months, rising to ten by 2020.
In Dalkeith, Bellway is planning to build Summerville Gardens, a site of 82 private and 27 affordable homes, close to its Duke’s Meadow development in the Wester Cowden area.
The company is purchasing a new site in Penicuik, Ladywood View, creating 91 new homes, and a further 144 properties at a site near Prestonpans.
The housebuilder’s new sites join its popular development at Shawfair, near Sheriffhall.
Iain Allison, regional director Bellway Homes Ltd (Scotland East), said: “The first 12 months have been very successful and everybody has settled in well to the new business.
“The market in the East continues to look strong with a lot of demand in key commuter locations. We are also seeing the benefits of a strong market for second hand homes as our buyers are finding it easy to sell their existing properties.
“It is an exciting time for the business as we take the Bellway brand into new areas providing much needed private and social housing in key locations and creating employment opportunities.”