Hagan Homes is investing £3.3m to create 24 homes at The Rose Garden development off Queensway in Dunmurry.
The construction phase of the development will sustain 36 jobs, the Co Antrim housebuilders said.
It has appointed Warrenpoint company Eden Contractors to deliver the two-bed apartments.
Work has already started on the site and is scheduled for completion in September 2021, with the first home handover due to take place in autumn this year. The apartments are priced from £134,950.
Jim Burke, director of sales and acquisitions at Hagan Homes, said the development will address a need for new homes in the area.
"These contemporary apartments would be ideal for first-time buyers or those wishing to downsize," he said.
"With The Rose Garden suitably located just a short distance from Belfast's thriving city centre and within easy reach of excellent public transport links, this area is also perfect for those making the daily commute."
The investment comes after the housing market here reopened last week.
Mark Spence, assistant director of the Construction Employers Federation, said he believed the prices of new homes would be largely unaffected by the Covid-19 downturn.
But he said builders will face added costs with the need for social distancing affecting the number of people who can be on a building site.
New home builders were reporting strong demand over the first week of the market reopening.
Mr Spence, however, added: "We don't know yet if that's a true state of the sector for a little while yet, and in the back of everyone's minds is the end of furlough and concerns for people around their own job security."
Hagan Homes was among the first to launch socially distanced viewings of its properties.