Direct investments in Egypt’s Forbes International Tower expected to hit $1B

Updated 6/13/2024 5:55:00 PM
Direct investments in Egypt’s Forbes International Tower expected to hit $1B

Arab Finance: Direct investments in the Forbes International Tower project in Egypt’s New Administrative Capital are expected to hit $1 billion, as per a cabinet statement.

This came during a cabinet meeting to review a proposal submitted by Magnom Properties, a joint venture (JV) between Magnom Holding and the Saudi-based Rawabi Holding Group, to execute the project.

In November 2023, it was reported that Magnom Properties partnered with BMW-owned Designworks to design a sensory façade for Forbes International Tower.

The tower aims to set a new benchmark for eco-friendly architecture, with the ultimate goal of achieving zero net carbon emissions.

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