Updates on the Forbes International Tower project in the Central Business District of the New Capital, with estimated investments of $1 billion, were at the centre of discussions on Sunday between Deputy Prime Minister for Economic Affairs Hussein Eissa and Michael Gilbert, CEO of Forbes Global Properties, and Magid Marai, CEO of Magnum Real Estate.
The talks covered the project’s design, implementation and financing, as well as co-ordination mechanisms aimed at accelerating its progress.
Eissa stressed that the project reflects the attractiveness of the Egyptian market and global confidence in the country’s economy, further enhancing the New Capital’s position as a regional hub for business and investment.
He highlighted the government’s commitment to strengthening competitiveness, facilitating investment and expanding the adoption of green building and sustainability standards.
For his part, Gilbert outlined Forbes’ vision for the project, noting that the tower will have a built-up area of 100,000 square metres, rise 250 metres and comprise 55 floors, serving as a global destination for business.
He also highlighted its pioneering role as the world’s first zero-carbon-emissions tower, combining urban innovation with environmental sustainability and advanced smart services.
The executives praised Egypt’s urban development and modern infrastructure, describing the project as a milestone in Forbes’ presence in Egypt and the wider region.
The meeting concluded with an agreement to maintain close co-ordination and leverage expertise to support the project’s development and expand co-operation with international companies.
