Magnom Properties enters into a partnership with Forbes to implement a plan for a new zero-carbon commercial tower in Cairo, Invest-Gate reports.

The two companies announce plans to build an innovative, environmentally responsive tower in the New Administrative Capital during the 53rd Annual Meeting of the World Economic Forum (WEF) in Davos, Switzerland.

The Forbes International Tower project is designed by Adrian Smith + Gordon Gill Architecture (AS+GG Architecture).

Magnom Properties, Forbes, and AS+GG Architecture sign a memorandum of understanding for the development of the tower.

“We are excited to partner with Magnom Properties to work with the world-renowned architect, Adrian Smith, and build the first sustainable international tower under the Forbes name,” CEO of Forbes, Mike Federle, says.

Chairman of Magnom Properties, Abdulaziz Al Turki, comments: “Cities play a critical role in our race to reach net zero, and buildings, which are responsible for up to a third of greenhouse gas emissions globally, are a great opportunity to improve urban efficiency and build inclusive, resilient, and sustainable communities.”