The firm has completed the repair to a burst water main which caused the subsidence, but work to fix the hole in the road will take several days to complete.
On Thursday the rear wheel of a double deck bus was trapped in the large hole for six hours before engineers could remove it.
No-one was hurt in the incident, but a section of the road, outside George House, remains closed to traffic.
A Scottish Water spokesman said: "We completed the repair of the eight-inch main at about 4am yesterday.
"The burst caused some subsidence on the road.
"Traffic management will be required while we work to reinstate the damaged section of road.
"The burst main affected water supplies to a very small number of properties in the area but our engineers worked quickly to install a by-pass, which allowed normal supplies to be restored after about an hour.
"The work will be completed and road repaired early next week."