Egypt, Forbes discuss cooperation on landmark tower project in New Capital

Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with Michael Jalbert, CEO of Forbes Global Properties, in Washington to discuss advancing the Forbes International Tower project in Egypt’s New Administrative Capital.

The two officials also explored broader investment opportunities in the country, the ministry said in a statement on Sunday.

The talks took place on the sidelines of the IMF and World Bank Annual Meetings and were attended by Maged Marie, CEO of Magnom Properties, a subsidiary of Rawabi Holding Group and Forbes’ exclusive real estate developer in Egypt and the Gulf region.

El-Khatib said the project reflects growing confidence among US and Arab investors in Egypt’s business climate and its ability to attract large-scale, high-value investments. He added that Egypt aims to strengthen its position as a regional hub for business and innovation through ongoing economic reforms, infrastructure upgrades, and streamlined investment procedures.

Jalbert praised Egypt’s economic progress and reaffirmed Forbes’ commitment to expanding its presence in the country. He said the company plans to highlight success stories of Egyptian, American, and Arab businesses globally as examples of sustainable growth in emerging markets.

The meeting was part of El-Khatib’s broader engagement with US and international financial leaders in Washington to deepen investment partnerships and attract more foreign capital to Egypt’s productive and high-value service sectors.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser