The residential tower will be built at the Sary Street junction on the corniche next to the Rosewood Hotel.
It will have one basement, a ground floor, a service floor and 57 floors of residential units. The total built-up area will be 97,000 square metres.
Bahrain-based Projacs International is the project manager.
The tower is the latest high-rise scheme planned for Jeddah. An award is expected soon for the contract to build the Lamar Towers project, and in May the local Saudi Freyssinet was selected for the contract to build a 54-floor tower for UAE-based Emaar Properties (MEED 14:6:08).