Magnum Real Estate has submitted a proposal to construct the Forbes International Tower in Egypt’s New Administrative Capital, in collaboration with global media company Forbes.

The project is expected to have direct investments of approximately $1 billion and represents one of the world’s best architectural designs. It aims to add a distinctive architectural mark that aligns with the Egyptian state’s vision for the New Administrative Capital.

The 250-meter-tall tower will be environmentally friendly and reduce carbon emissions, in line with the recommendations of the COP-27 climate conference, where Egypt pledged to implement a set of climate change adaptation and mitigation strategies.

The design of the Forbes International Tower is being led by one of the world’s most renowned and reputable architectural consulting firms, known for creating iconic landmarks around the globe that serve as symbols of city identities.

The Forbes International Tower project aims to set a new benchmark for environmentally responsive architecture with the overall goal of achieving “net-zero carbon emissions.” To this end, the tower intends to play a pivotal role in reducing both the embodied and operational carbon of the building. The tower’s strategy aligns with the United Nations’ Sustainable Development Goals for 2030.