Photo Credit: Lior Mizrahi / Flash 90
A completed apartment building complex in southern Jerusalem's Gilo neighborhood,, photographed in December 2015.

The city of Jerusalem will see the rise of 40,000 more apartments in the next ten years, according to Mayor Moshe Lion.

The mayor made the announcement last week at an inauguration for the Aura Institute for Law, Social Entrepreneurship and Urban Renewal at the Interdisciplinary College (IDC) of Herzliya.

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Lion cited an increase in urban renewal plans and high land values as important signs of healthy growth in the capital, despite the current housing shortage and the problem of young people who seem to be leaving.

The mayor also said master plans are being pushed in the eastern sector of the city to implement urban renewal and more efficient exploitation of the land, Globes reported.

All of the above is being carried out, Lion said, in order to meet the goal of housing a total population in the capital that is estimated to reach 1.4 million by 2040.

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