Magnom Properties, a subsidiary of Saudi industrial group Rawabi Holding, is set to begin construction on a groundbreaking project in Egypt's new capital early next year. The $1bn, 50-storey office tower will be the first of its kind to be powered by clean hydrogen, a move aligning with Egypt's ambitions to become a green energy hub. The tower, named the Forbes International Tower, is expected to be completed by 2030 and will feature high-end amenities and sustainable design elements. The new capital, a city designed for over six million residents, has attracted attention for its ambitious infrastructure projects. This particular tower, developed in collaboration with media group Forbes and renowned architects, aims to set a new standard in luxury and sustainability. With advanced features like solar panels, VIP elevators, and a reliance on clean hydrogen for energy, the tower is positioned to be a symbol of innovation in the region. While the investment in the tower is significant for Egypt, representing a departure from traditional development projects, it signals a shift towards sustainable and high-tech real estate solutions. The emphasis on clean energy and sophisticated design reflects a growing trend towards environmentally conscious construction practices. The tower's financing structure and ownership model are still under discussion but are expected to leverage a mix of debt and equity. Overall, the project showcases the potential for economic growth and innovation in Egypt, emphasizing the country's strategic position and commitment to sustainable development. By embracing clean hydrogen technology and sustainable design principles, Magnom Properties is not only setting a new benchmark in real estate but also contributing to Egypt's goal of becoming a regional leader in green energy initiatives.