diff --git a/docs/markdown/snippets/cmake-project-version.md b/docs/markdown/snippets/cmake-project-version.md
new file mode 100644
index 000000000..0bc120b9f
--- /dev/null
+++ b/docs/markdown/snippets/cmake-project-version.md
@@ -0,0 +1,6 @@
+## Meson now reads the project version of cmake subprojects
+
+CMake subprojects configured by meson will now have their project
+version set to the project version in their CMakeLists.txt. This
+allows version constraints to be properly checked when falling back to
+a cmake subproject.
diff --git a/mesonbuild/cmake/fileapi.py b/mesonbuild/cmake/fileapi.py
index baf499fc0..c82c51fc0 100644
--- a/mesonbuild/cmake/fileapi.py
+++ b/mesonbuild/cmake/fileapi.py
@@ -30,8 +30,10 @@ class CMakeFileAPI:
         self.reply_dir = self.api_base_dir / 'reply'
         self.cmake_sources: T.List[CMakeBuildFile] = []
         self.cmake_configurations: T.List[CMakeConfiguration] = []
+        self.project_version = ''
         self.kind_resolver_map = {
             'codemodel': self._parse_codemodel,
+            'cache': self._parse_cache,
             'cmakeFiles': self._parse_cmakeFiles,
         }
 
@@ -41,12 +43,16 @@ class CMakeFileAPI:
     def get_cmake_configurations(self) -> T.List[CMakeConfiguration]:
         return self.cmake_configurations
 
+    def get_project_version(self) -> str:
+        return self.project_version
+
     def setup_request(self) -> None:
         self.request_dir.mkdir(parents=True, exist_ok=True)
 
         query = {
             'requests': [
                 {'kind': 'codemodel', 'version': {'major': 2, 'minor': 0}},
+                {'kind': 'cache', 'version': {'major': 2, 'minor': 0}},
                 {'kind': 'cmakeFiles', 'version': {'major': 1, 'minor': 0}},
             ]
         }
@@ -279,6 +285,13 @@ class CMakeFileAPI:
             path = path if path.is_absolute() else src_dir / path
             self.cmake_sources += [CMakeBuildFile(path, i.get('isCMake', False), i.get('isGenerated', False))]
 
+    def _parse_cache(self, data: T.Dict[str, T.Any]) -> None:
+        assert 'entries' in data
+
+        for e in data['entries']:
+            if e['name'] == 'CMAKE_PROJECT_VERSION':
+                self.project_version = e['value']
+
     def _strip_data(self, data: T.Any) -> T.Any:
         if isinstance(data, list):
             for idx, i in enumerate(data):
diff --git a/mesonbuild/cmake/interpreter.py b/mesonbuild/cmake/interpreter.py
index 8e9ea187e..20348b5f6 100644
--- a/mesonbuild/cmake/interpreter.py
+++ b/mesonbuild/cmake/interpreter.py
@@ -784,6 +784,7 @@ class CMakeInterpreter:
 
         # Analysed data
         self.project_name = ''
+        self.project_version = ''
         self.languages: T.List[str] = []
         self.targets: T.List[ConverterTarget] = []
         self.custom_targets: T.List[ConverterCustomTarget] = []
@@ -875,6 +876,8 @@ class CMakeInterpreter:
         # Load the codemodel configurations
         self.codemodel_configs = self.fileapi.get_cmake_configurations()
 
+        self.project_version = self.fileapi.get_project_version()
+
     def analyse(self) -> None:
         if self.codemodel_configs is None:
             raise CMakeException('CMakeInterpreter was not initialized')
@@ -949,7 +952,7 @@ class CMakeInterpreter:
         for tgt in self.targets:
             tgt.cleanup_dependencies()
 
-        mlog.log('CMake project', mlog.bold(self.project_name), 'has', mlog.bold(str(len(self.targets) + len(self.custom_targets))), 'build targets.')
+        mlog.log('CMake project', mlog.bold(self.project_name), mlog.bold(self.project_version), 'has', mlog.bold(str(len(self.targets) + len(self.custom_targets))), 'build targets.')
 
     def pretend_to_be_meson(self, options: TargetOptions) -> CodeBlockNode:
         if not self.project_name:
@@ -1023,7 +1026,7 @@ class CMakeInterpreter:
 
         # Generate the root code block and the project function call
         root_cb = CodeBlockNode(token())
-        root_cb.lines += [function('project', [self.project_name] + self.languages)]
+        root_cb.lines += [function('project', [self.project_name] + self.languages, {'version': self.project_version} if self.project_version else None)]
 
         # Add the run script for custom commands
 
diff --git a/test cases/cmake/27 dependency fallback/meson.build b/test cases/cmake/27 dependency fallback/meson.build
index 871d70c9f..76230bbf6 100644
--- a/test cases/cmake/27 dependency fallback/meson.build	
+++ b/test cases/cmake/27 dependency fallback/meson.build	
@@ -1,7 +1,7 @@
 project('cmakeSubTest', ['c', 'cpp'])
 
 # Fallback to a CMake subproject
-sub_dep = dependency('cmModLib++')
+sub_dep = dependency('cmModLib++', version: '>=1.2.3')
 exe1 = executable('main', ['main.cpp'], dependencies: [sub_dep])
 test('test1', exe1)
 
diff --git a/test cases/cmake/27 dependency fallback/subprojects/cmMod/CMakeLists.txt b/test cases/cmake/27 dependency fallback/subprojects/cmMod/CMakeLists.txt
index d08e55cdf..f920576e2 100644
--- a/test cases/cmake/27 dependency fallback/subprojects/cmMod/CMakeLists.txt	
+++ b/test cases/cmake/27 dependency fallback/subprojects/cmMod/CMakeLists.txt	
@@ -1,6 +1,6 @@
 cmake_minimum_required(VERSION 3.5)
 
-project(cmMod)
+project(cmMod VERSION 1.2.3)
 set(CMAKE_CXX_STANDARD 14)
 
 include_directories(${CMAKE_CURRENT_BINARY_DIR})