Magnom Properties to Build Hydrogen-Powered Skyscraper in Cairo

Magnom Properties, a subsidiary of Saudi industrial group Rawabi Holding, is set to begin construction on the Forbes International Tower, a $1 billion, 50-storey office tower powered by clean hydrogen, in Egypt's New Administrative Capital (NAC) starting early 2024. This ambitious project aims to attract international clients and establish Egypt as a leader in sustainable energy, contributing to its vision of a modern metropolis for over 6 million residents. The tower will incorporate solar panels to provide 25% of its energy needs, with the remainder generated from hydrogen transported in liquid form. With completion expected by 2030, the project is seen as a significant investment in green building technology and a potential benchmark for future developments in the region. However, the NAC has faced scrutiny over its high costs and economic viability amid concerns about local mismanagement and infrastructure challenges.