The ship was ordered from Yarrows at Scotstoun under the 1932 Programme. She was laid down on 31 July 1933, and launched on 12 June 1934, as the third RN warship to carry this name. Faulknor was completed on 24 May 1935 at a cost of £271,886, excluding items supplied by the Admiralty such as guns, ammunition and communications equipment.