The Clap
Global media company Forbes has signed a deal with Saudi company Magnum Real Estate to build a commercial tower in Egypt’s New Administrative Capital.
What
The tower will be designed by the same architect who designed Burj Khalifa in Dubai & the Trump Tower in New York.
So what
Chairman of the New Administrative Capital Company said this tower is an Egyptian-Saudi investment valued at approximately 20 billion Egyptian pounds.
Now what
The press release said the partnership “comes under the backdrop of a global study that has underpinned the strength of real estate in the Middle East as a core driver of economic growth and investment of choice.”