$1 Billion Forbes Tower Planned for New Capital

A 50-floor Forbes-branded tower planned for Egypt’s New Capital is targeting around $1 billion in investment and zero carbon emissions, according to the Cabinet’s Media Centre.

The Forbes International Tower is planned for the Central Business District, where it would stand 240 metres high on a 20,300-square-metre site with around 100,000 square metres of built-up space.

Plans for the tower include six underground parking levels and 36 lifts, including one designed for vehicles. Architect Adrian Smith is leading the design team, while the proposed programme includes Grade A offices, retail space, a helipad, parking designed in collaboration with BMW, water features and a gallery displaying more than 50 artworks.

The project was first announced in January 2023 as a partnership between Forbes and Magnom Properties.

Solar power and a clean hydrogen system are intended to supply all of the tower’s electricity needs. Smart façades and adaptive lighting are projected to reduce energy consumption by 46%, while changes to construction materials and processes are expected to cut embodied carbon by 58%.

The development is also targeting annual savings of 1.8 million kilograms of carbon dioxide emissions, as well as 438 million kilograms of carbon dioxide equivalent over a 60-year period. Water-saving systems are projected to reduce annual consumption by 74%, equivalent to around 9.4 million litres.

The Cabinet said the project received Platinum certification under Egypt’s Green Pyramid Rating System in 2026 and won a 2026 International Architecture Award in the skyscrapers category, alongside property and sustainability awards received in 2023 and 2024.

Citing Forbes, the Media Centre projected that the tower could attract $10.8 billion in foreign investment over four years, create around 60,000 jobs and generate an additional $20 million in revenue for Egyptian port and shipping services.