The Egyptian cabinet has unveiled plans for a 50-floor Forbes International Tower in the Central Business District of the New Capital, a massive urban development project located about 60 kilometres east of Cairo. The proposed tower is expected to attract around $1 billion in investment and achieve zero carbon emissions. The project was announced in January 2023 as a partnership between Forbes and Magnom Properties.
The Forbes International Tower will stand 240 metres high on a 20,300-square-metre site, with 100,000 square metres of built-up space. The design team, led by architect Adrian Smith, includes plans for six underground parking levels and 36 lifts. The proposed facilities will feature Grade A offices, retail space, a helipad, parking designed in collaboration with BMW, and a gallery displaying over 50 artworks.
The project aims to incorporate sustainable design and energy-efficient technologies, including solar power and a clean hydrogen system to meet all the tower's electricity needs. The use of smart façades and adaptive lighting is projected to cut energy use by 46 percent, while changes to construction materials and processes are expected to reduce embodied carbon by 58 percent.
The tower's sustainable design has already garnered recognition, including Platinum certification under Egypt's Green Pyramid Rating System in 2026 and a 2026 International Architecture Award in the skyscrapers category. The project also received property and sustainability awards in 2023 and 2024, including recognition for Magnom Properties.
According to the cabinet, the project is expected to have a significant economic impact, attracting $10.8 billion in foreign investment over four years, creating around 60,000 jobs, and adding $20 million to Egyptian port and shipping-service revenue. The proposed tower is part of a wider effort to bring private investment into the New Capital, which is being developed to expand urban development and ease pressure on Cairo.
The New Capital project, launched in 2015, is designed to accommodate 6.5 million people when complete. The city's Government District houses ministries, the Cabinet, and parliament, while the separate Central Business District contains 20 skyscrapers, including the 78-floor Iconic Tower. The city is being linked to Greater Cairo through rail transport projects, and the government began moving to the city in stages in 2023.
The Forbes tower project aligns with Egypt's broader green industry transition programme, which aims to promote sustainable development and reduce carbon emissions. The project targets avoiding 1.8 million kilograms of carbon dioxide emissions a year and 438 million kilograms of carbon dioxide equivalent over 60 years, with water-saving systems projected to reduce annual consumption by 74 percent, or 9.4 million litres.
Key points
- The Forbes International Tower is expected to attract $1 billion in investment and achieve zero carbon emissions.
- The project aims to incorporate sustainable design and energy-efficient technologies to reduce energy use and carbon emissions.
- The tower's sustainable design has already garnered recognition, including Platinum certification under Egypt's Green Pyramid Rating System in 2026.
