Groundbreaking $1 Billion Hydrogen-Powered Office Tower Planned for Egypt's New Capital
Key Ideas
- Saudi-based Magnom Properties plans a $1 billion, 50-storey office tower powered by clean hydrogen in Egypt's New Administrative Capital, targeting international clients.
- The tower will feature advanced amenities like cybersecurity systems, VIP elevators, and a helipad, aiming to be the first net-zero carbon building in the region.
- Egypt's government supports the project, aligned with climate change strategies, as the tower's sustainable design and use of clean hydrogen contribute to reducing carbon emissions.
- Magnom Properties aims to eliminate traditional utility reliance through the tower and offers incentives for sustainable design to land buyers within the new business district.
Saudi-based Magnom Properties, a subsidiary of Rawabi Holding, is set to begin construction on a $1 billion, 50-storey office tower in Egypt's New Administrative Capital. The Forbes International Tower will be the first of its kind in the region to be powered by clean hydrogen, with a completion target set for 2030. The luxury tower will offer sophisticated office spaces and amenities like advanced cybersecurity systems, VIP elevators, and a helipad, setting a new standard in the New Capital. The project aligns with Egypt's commitment to addressing climate change and reducing carbon emissions, as the tower aims to be the first net-zero carbon building in the Middle East and North Africa. The use of clean hydrogen and solar panels for electricity generation illustrates a strong focus on sustainability and innovation. The government's support for this initiative indicates a positive stance towards integrating renewable energy and sustainable practices into urban development. Magnom Properties' vision of a future with reduced environmental impact and enhanced energy efficiency through the use of hydrogen sets a promising precedent for green infrastructure projects.