Cover story: How Magnom Properties is keen to invest in the future

Cover story: How Magnom Properties is keen to invest in the future

One of the most unique factors behind a diversification strategy is the core reason for its pursuit. For Saudi-based conglomerate Rawabi Holding, the intent to diversify into real estate was pegged to a broader vision – creating dynamic environments that would cater to the evolving needs of businesses and individuals in the years to come. This goal drove the company to establish its real estate arm, Magnom Properties, last year. The newly established business was mandated to oversee the construction of a roster of innovative, yet sustainable, real estate projects across Saudi Arabia, Egypt and the Middle East and North Africa (MENA) region. Less than a year into its inception, Magnom Properties announced its inaugural endeavour – a zero-carbon commercial tower, nestled in the Egyptian capital of Cairo, in collaboration with media brand . The plan was unveiled to the international community at the World Economic Forum 2023 meeting in the Swiss town of Davos. The planned Forbes International Tower will be located in the northern central business district of Cairo’s new administrative capital, and would host 50 floors of office space, complemented by two storeys of retail offerings upon completion. “Egypt’s new administrative capital is a growth hub for