Some 200,000 new condominiums would be built and sold mainly to young Saudis to help alleviate housing shortage in Jeddah, Saudi Arabia.

The units, which will sit on four parcels of land already owned by the city, will go for no more than SR180,000 each, the Mayor's Office has announced.
An international company experienced in constructing cost-effective multi-storey buildings has been chosen for the project.
Additionally, the private sector will be allowed to invest in the project and will provide input as far as determining the height of the buildings. The Mayor's Office, however, has already said that the projects will be exempt from a Jeddah law limiting new housing structures to just six storeys.
Work on the project is expected to begin sometime in the next few months after engineering consultants approve design plans.