Magnom Properties to build zero-carbon tower in Cairo
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Magnom Properties, Forbes to build zero-carbon tower in Cairo

Magnom Properties, Forbes to build zero-carbon tower in Cairo

Designed by architects Adrian Smith + Gordon Gill Architecture, the planned ‘Forbes International Tower’ will mark the next generation of building design

Gulf Business
magnom properties ties up with Forbes to build zero-carbon commercial tower

The 53rd annual meeting of the World Economic Forum (WEF) that recently concluded in Davos, Switzerland, saw global leaders underscore the need for mainstreaming smart and sustainable climate solutions in urban development to enhance the livability, efficiency and productivity of cities. Against this fitting backdrop, Egypt-based Magnom Properties and Forbes announced their plans to build an innovative, environmentally-responsive tower set in the heart of the New Administrative Capital in Cairo, Egypt.

A series of firsts
Designed by renowned architects, Adrian Smith + Gordon Gill Architecture (AS+GG Architecture), the planned ‘Forbes International Tower’ will mark the next generation of building design, as Magnom Properties, a subsidiary of Rawabi Holding, aims to push the boundaries of modern construction to pursue a zero-carbon strategy.

The partnership also marks the first time that Forbes has branded a commercial tower.

A licence agreement 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 Adrian Smith and Gordon Gill.
“We are excited to partner with Magnom Properties to work with the world-renowned architect, Adrian Smith, and build the first sustainable international tower under the Forbes name,” said Federle.

Sustainability and urban development
Al Turki 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.”

Ibrahim added: “The launch of the project comes at a time when overall macroeconomic outlook in Egypt remains favourable and investments in MENA are at an eight-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.”

Futuristic technologies
“The visually striking, beautifully futuristic ‘Forbes International Tower’ has 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,” elaborated Smith.

Located in the northern Central Business District of Cairo’s New Administrative Capital, the zero-carbon 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. Gill said: “Marked by a conscious commitment to exploring low carbon pathways, the ‘Forbes International Tower’ adheres to the highest standards of green building principles and will utilise several advanced technologies in partnership with leading global partners to drive energy efficiency and reduce emissions. More details will be released in due course.”

An important step
“Having launched Forbes Global Properties, our first real estate brokerage business, three years ago, we are taking an important step forward in our real estate plans with the development of Forbes International Tower, the first commercial building in the world with the Forbes brand,” said Peter Hung, president, Licensing and Branded Ventures, Forbes.

Marie also expressed his excitement about partnering with Forbes. He said: “We are happy to announce the signing of our agreement with Forbes at WEF 2023, where constructive dialogues on issues of global importance are inspiring action to shape a better future for all. We are partnering with some of the best brands in the world to harness advanced technologies and deliver a carbon neutral development that represents the best in architectural design, green building standards, and sustainable engineering and specification.”

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