ALBAWABA - Magnom Properties, the Egyptian incorporated company that acts as a commercial alliance between Magnom Holding and Rawabi Holding Group in Saudi Arabia, announced that it is currently studying the launch of Forbes International Tower in both Saudi Arabia and the United Arab Emirates, with a total budget of $1 billion for each country, according to Maged Marie, CEO of Magnom Properties.
Forbes International Tower
Maged Marie, CEO of Magnom Properties, stated that the company is currently studying plans to establish Forbes International Tower in both Saudi Arabia and the United Arab Emirates. Each project is expected to have a total budget of $1 billion.
In an interview with Alarabiya Business, Marie said that Forbes International Tower will be a commercial and administrative facility covering an area of nearly 100,000 square meters.
Magnom Properties is currently studying plans to establish Forbes International Tower in both Saudi Arabia and the United Arab Emirates. (Shutterstock)
Marie added that Forbes International Tower is expected to be completed in Egypt, Saudi Arabia, and the United Arab Emirates within the next five years. Magnom Properties, the exclusive developer of Forbes International Tower in Egypt and the Gulf, will announce more details on the project in 2025.
Forbes International Tower in Egypt
It is worth noting that Magnum properties is currently developing the Forbes International Tower project in the new administrative capital in Egypt with a total investment of $1 billion.
According to the company, the tower is 250 meters high with 50 floors, and it covers an area of 100,000 square meters.
This tower will be the first carbon-free tower in the world, operating on renewable and environmentally friendly sources like liquid hydrogen and solar energy. The company plans to launch sales for the tower in 2025, with construction expected to be completed within 36 months.
