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Forbes Partners with Magnom Properties Real Estate Developer Branding the World’s First Commercial Tower – FORBES International Tower – Yahoo Finance

LOS ANGELES, CA / ACCESSWIRE / January 23, 2023 / A meeting of the greats; Magnom Properties, one of the world’s finest real estate developers, and Forbes global media company, have come together to develop an environmentally responsive tower in the heart of Cairo, Egypt. The announcement was made at the 53rd Annual Meeting of the World Economic Forum (WEF), where world leaders and experts discussed, amongst other important topics, the need for mainstreaming smart and sustainable climate solutions in urban development to enhance the livability, efficiency, and productivity of cities. Moving forward, Forbes International Tower will be a beacon of progress, solidifying a commitment to long-term sustainability.

Magnom Properties, Monday, January 23, 2023, Press release picture

Magnom Properties, Monday, January 23, 2023, Press release picture

The partnership agreement comes under the backdrop of a global study that has underpinned the strength of real estate in the Middle East as a core driver of economic growth and investment of choice buoyed by strong demand fundamentals, high GDP growth, and diversification strategies in the non-oil sector. Forbes International Tower will elevate the standard of green design and push boundaries of modern construction for the area. Othman A. Ibrahim, CEO, Rawabi Holding; Vice Chairman of its Board of Directors and Vice Chairman of Magnom Properties, shared: “The launch of the project comes at a time when overall macroeconomic outlook in Egypt remains favorable and investments in MENA are at an 8-year high, with studies projecting a 6.5 per cent CAGR growth in real estate from 2022-2030 for the region, which is higher than the global market average.” This project will contribute toward the trend and influence a new wave of development in the Middle East and North Africa with a dedication toward environmentally conscious and friendly practices.

Magnom Properties, Monday, January 23, 2023, Press release picture

Magnom Properties, Monday, January 23, 2023, Press release picture

Forbes International Tower adheres to the highest standards of green building principles and will utilize several advanced technologies in partnership with leading global partners to drive energy efficiency and reduce emissions. The visually striking, beautifully futuristic building by Adrian Smith + Gordon Gill Architecture, is a contextually responsive soaring glass, steel, and photovoltaic-laced design. The tower features captivating curves of glass and steel that launch skyward to form 55 floors of flexible office space and two stories of high-end retail experiences. Located in the northern Central Business District of Cairo’s New Administrative Capital, the innovative commercial tower harnesses the power of surrounding natural resources and elevates energy performance standards with a solar panel rooftop, fully automated HVAC field devices, and modern intelligent building technology. The harmonious biophilic designs assist in air circulation, brings nature indoors, and aims to enhance employee wellbeing.

Commenting on the new partnership and launch, Abdulaziz Al Turki, Group Chairman of Rawabi Holding and Chairman of Magnom Properties, said: “Cities play a critical role in our race to reach net zero and buildings, which are responsible for up to a third of greenhouse gas emissions globally, are a great opportunity to improve urban efficiency and build inclusive, resilient, and sustainable communities. A key pillar of Egypt’s ambitious Vision 2030 is Urban Development, and the launch of the Forbes International Tower, primed to achieve a Platinum LEED certification, reflects our vision of setting new standards in sustainability.”

Focusing on responsible, carbon neutral development reflects a positive movement in the modern era where environmental impact and long-term outlooks are at the forefront. As Forbes continues to create impact around the world through their trusted brand of journalism, summits to promote human rights and entrepreneurial capitalism, their partnership with Magnom Properties solidifies their endeavors to extend the brand ethos into cutting-edge developments. Forbes International Tower is slated to be a responsible zero-carbon commercial tower in Cairo, Egypt, where businesses can thrive in the heart of one of the most iconic cities in the world.


Magnom Properties, the real estate arm of Rawabi Holding; located in Egypt and across the Middle East, Magnom Properties challenge the industry and strive for better through a unique version of world-leading sustainability, smart solutions and opulent luxury. We create unforgettable experiences that define who we are one iconic development at a time.

Magnom Properties Team

SOURCE: Magnom Properties

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