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.