Magnom Properties and Forbes Join Hands

Solidifying our commitment to long-term sustainability, we are pleased to announce the new partnership between Magnom Properties, the world’s finest real estate developer, and Forbes, on building Forbes International Tower, an innovative, environmentally responsive tower set, as previously announced, in the heart of the New Administrative Capital in Cairo, Egypt. 

The partnership, which marks the first time that Forbes has branded a commercial tower, was announced at the 53rd Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland, in the presence of Her Excellency Dr. Hala Elsaid, Egypt’s Minister of Planning and Economic Development, and Khaled Abbas, Chairman of the New Capital Company for Urban Development. 

To develop this project, a licensing agreement was signed at the Dome at the WEF by Abdulaziz AlTurki, Chairman of Rawabi Holding Group and Magnom Properties, and Mike Federle, CEO of Forbes, in the presence of Osman Ibrahim, Rawabi Holding Vice Chairman and CEO and Magnom Properties Vice Chairman; Maged Marie, CEO of Magnom Properties; and architects Adrian Smith and Gordon Gill, who will be leading the implementation of the project.   

Her Excellency Dr. Rania Al-Mashat, Egypt’s Minister of International Cooperation, and Wael Jad, Egypt’s Ambassador in Switzerland, attended the ceremony and witnessed the new partnership, which was the result of a global study that highlighted the strong role played by the private real estate sector in the Middle East in driving economic growth and investment.