Forbes International Tower
JLL to provide real estate services for Forbes’ first branded tower in Egypt developed by Magnom Properties
During the 53rdAnnual Meeting of the World Economic Forum (WEF) in Davos, Magnom Properties and Forbes announced their plans to develop an innovative, environmentally responsive tower in the heart of the rising New Administrative Capital in Cairo, Egypt. JLL, a leading professional services firm specializing in real estate, investment management, and development consultancy, has been appointed to provide project management, cost management and construction management services for the tower, from project initiation and concept design, through to construction and handover. JLL will also provide retail advisory services to Magnom Properties.
Designed by Adrian Smith + Gordon Gill Architecture (AS+GG Architecture), the planned ‘Forbes International Tower’ marks the start of a new era of building design as Magnom Properties, a subsidiary of Rawabi Holding, pushes the boundaries of modern construction to pursue a zero-carbon strategy in collaboration with Forbes.
Commenting on this, Mohamed Nabil, Head of Project & Development Services Egypt, said: “As Magnom Properties embarks on this new venture, we are pleased to help them realize their ambitions by providing services for the tower, from project initiation through to construction and handover. It’s an exciting project as it pushes the boundaries of sustainability in the real estate industry, an area we understand well.”
Maged Marie, CEO, Magnom Properties, said: “We are happy to announce the signing of our licensing agreement with Forbes at WEF 2023, where constructive dialogues on issues of global importance are inspiring action to shape a better future for all. We are partnering with some of the best brands in the world to harness advanced technologies and deliver a carbon neutral development that represents the best in architectural design, green building standards, and sustainable engineering and specification.”
"We are excited to partner with Magnom Properties to work with the world-renowned architect, Adrian Smith, and build the first sustainable international tower under the Forbes name,” said Mike Federle, CEO, Forbes. “Forbes continues to create impact around the world, whether it be our trusted brand of journalism, summits to promote women’s rights or the power of entrepreneurial capitalism, to endeavoring to build a cutting-edge and responsible tower where businesses can thrive in the heart of one of the most iconic cities in the world.”
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.