Forbes and Saudi Arabian real estate firm, Magnom Properties, are set to construct the Forbes International Tower. The $1 billion, 50-story office tower that aims to be the first of its kind hydrogen-powered building in the region.
The 240-meter (787 feet) tall skyscraper is being built in Egypt’s New Administrative Capital.
The partnership between the two international companies was revealed during the 53rd Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, in 2023. Forbes CEO Mike Federle hailed the project as “the first sustainable international tower under the Forbes name.”
The tower, set to begin construction in 2025 and expected to be completed by 2030, will be located in the heart of Cairo’s new capital business district, close to the Iconic Tower, Africa’s tallest building.
Key facts
- Forbes International Tower will be a 240 meter (787 feet) tall office.
- The building aims to be the first of its kind to be powered by clean hydrogen. It would be powered by 75% hydrogen and 25% photovoltaics.
- The skyscraper is expected to be completed by 2030.
First net-zero carbon tower in the MENA region
Designed by Gordon Gill of Adrian Smith + Gordon Gill Architecture, the firm responsible for the Central Park Tower in New York and the upcoming Jeddah Tower in Saudi Arabia, the skyscraper is intended to be a net-zero carbon structure in the Middle East and North Africa (MENA) region.
Adrian Smith described the design as “a contextually responsive structure of glass, steel, and photovoltaic elements” rising into 55 floors of flexible office space and two levels of premium retail.
The skyscraper will be powered by a combination of 75% clean hydrogen and 25% photovoltaics, with solar panels integrated into its facade.
“Apart from using renewable materials, sustainable energy sources, and making efficient use of space and resources, we will also harness the potential of advanced technologies and innovation to create best-in-class sustainability standards for the Forbes International Tower,” said Osman Ibrahim, CEO, Rawabi Holding and Vice Chairman, Magnom Properties.
Magnom Properties revealed that using materials with “low-embodied carbon” could reduce the building’s construction-related emissions by 58%. Additionally, water recycling and treatment systems will minimize the demand for freshwater, a critical concern in Egypt, where water scarcity is increasing.
The company also expressed its goal to achieve a “net-negative carbon vision” for the skyscraper and pursue the Zero Carbon Certificate from the International Living Future Institute, which would make the building the first of its kind.
Forbes International Tower — paving the way for futuristic sustainable technologies
The project marks a major investment aimed at drawing international clients to the newly developed city, which is designed to accommodate over 6 million residents in the desert east of Cairo.
The tower will also serve as both an incentive and inspiration for real estate to innovate and transform the way they develop infrastructure.
“The tower is a pioneering experiment in the field of modern architectural engineering as it harnesses the potential of hydrogen to produce energy within the property. This is an unprecedented achievement in this sector, and a first of its kind in the world,” Maged Marie, CEO, Magnom Properties, said.
“By collaborating with our global partners and targeting the highest global green rating systems of all building certifications, the Forbes International Tower is shaping a new era of sustainability in the region and globally,” he added.
The approach to incorporating hydrogen as a power source in the construction of a large-scale building is relatively new. Hydrogen, when sourced responsibly, is a potentially clean and renewable energy asset, and Magnom’s innovative use of it could pave the way for future advancements in sustainable architecture.
Magnom purchased land for the tower in 2021 in the new capital’s business district, and is selecting land for sister towers planned later for Dubai and Riyadh. “We want to offer our tenants and our buyers and investors the opportunity to utilize the facilities and amenities across the region,” Karim Dayhoum, the company’s executive director of projects said. “It’s a network of sophisticated office space.”