Magnom Properties, Forbes to build Forbes International Tower in Egypt’s new capital

Magnom Properties, Forbes to build Forbes International Tower in Egypt’s new capital

Cairo – Magnom Properties and Forbes announced their plans to build an innovative, environmentally responsive tower set in the heart of the rising New Administrative Capital (NAC) in Egypt.

The partnership, which marks the first time that Forbes has branded a commercial tower, was announced on the concluding day of the 53rd Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, according to a press release.

During this forum, leaders and experts from all over the world discussed the need for mainstreaming smart and sustainable climate solutions in urban development to enhance the livability and productivity of cities.

The planned Forbes International Tower marks the start of a new era of building design as Magnom Properties, a subsidiary of Rawabi Holding, pushes the boundaries of modern construction to pursue a zero-carbon strategy in collaboration with Forbes.

A Memorandum of Understanding (MoU) to develop the project was signed at the Dome at WEF by Abdulaziz Al Turki, Group Chairman of Rawabi Holding and Chairman of Magnom Properties, and Mike Federle, CEO, Forbes, in the presence of Othman A. Ibrahim, CEO of Rawabi Holding, Vice Chairman of its Board of Directors and Vice Chairman of Magnom Properties; Maged Marie, CEO, Magnom Properties; and architects