The four-year programme covers refurbishment and planned works to the council's 15,000 homes, as well as around 800 commercial and educational properties across Portsmouth.
In addition, the scope of work is wide-ranging, covering minor repairs through to new build properties.
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The two-tier deal identifies six primary contractors and a further four reserve suppliers, with Osborne having been chosen as a first tier supplier.
Carol Bailey, Managing Director for Osborne Property Services said: "Osborne already look after 60,000 homes across London and the South East. We pride ourselves on building close and successful partnerships with our customers and we have a vast amount of experience delivering this kind of support.
"We are looking forward to using our knowledge and experience to help Portsmouth City Council deliver excellent outcomes for its customers."
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