Magnom Properties, a subsidiary of Saudi Arabia's Rawabi Holding, has unveiled ambitious plans to construct a hydrogen-powered skyscraper in Egypt's new administrative capital. The 50-story tower, named the Forbes International Tower, is set to be a landmark in the business district of the capital, which is designed to accommodate over six million people. This project underscores Saudi Arabia's growing influence in the region’s real estate sector and highlights Egypt's efforts to modernize its infrastructure.

Scheduled to break ground early next year, the tower is designed by the renowned Chicago-based architectural firm Adrian Smith + Gordon Gill Architecture, known for their work on the Burj Khalifa and other iconic buildings. The tower will incorporate cutting-edge sustainable technologies, with its energy needs being met through a combination of solar panels and clean hydrogen. Solar energy will provide 25% of the building's power, while the remaining 75% will come from hydrogen, positioning the skyscraper as a pioneering example of green architecture in the Middle East.

Beyond its environmental credentials, the Forbes International Tower will feature high-end office spaces, VIP elevators, a helipad, and advanced cybersecurity measures, making it a prime location for businesses looking to establish a presence in the region. However, the project has also sparked debate. While the Egyptian government and project developers argue that it will drive economic growth and job creation, critics have raised concerns about the focus on luxury developments amid the economic challenges faced by ordinary Egyptians.

The project's financial structure involves a mix of debt and equity, though Magnom Properties has not yet decided whether it will retain full ownership of the tower upon completion. The company is also exploring potential locations for similar hydrogen-powered towers in Dubai and Riyadh, signaling a broader regional push towards sustainable skyscrapers.

The Forbes International Tower is slated for completion by 2030, and if successful, it could set a new standard for eco-friendly skyscrapers in the Middle East and beyond. However, its success will likely depend on the broader adoption of hydrogen as a viable energy source and the economic stability of Egypt’s new capital, a city that is still in the early stages of development.