Saudi-owned real estate firm to start building $1bn 'clean hydrogen-powered' skyscraper next year

Magnom Properties, a subsidiary of Saudi Arabia’s Rawabi Holding, announced plans to start construction next year on a $1 billion, 50-story office tower in Egypt, which will be powered by hydrogen. The Forbes International Tower is set to be built in Egypt’s upcoming new capital city, located 45 kilometers (28 miles) from Cairo. However, specific details about how the hydrogen will be sourced for the building remain unclear.

In June 2023, Magnom signed an agreement with Schneider Electric and H2-Enterprises to collaborate on providing clean hydrogen for the tower. This plan included using liquid organic hydrogen carriers (LOHCs) to transport the hydrogen and producing it from plastics and organic waste. It is still uncertain whether the hydrogen will be generated on-site from the building's waste or produced elsewhere and delivered via LOHCs.

Hydrogen Insight has contacted Magnom to confirm if this agreement is still valid or if they are considering other methods to supply hydrogen to the tower.

Egypt has been actively attracting renewable hydrogen projects, particularly in its Suez Canal economic zone, aiming to develop large-scale projects that supply hydrogen to Europe and provide green marine fuels. However, only one green hydrogen project, Fertiglobe’s first phase of the Egypt Green project, has begun operations so far, while other projects are still pending final investment decisions.

The Forbes International Tower will be one of the first large buildings to be powered by clean hydrogen, though it’s unclear whether this will involve blending hydrogen into the gas system or using a fuel cell for combined heat and power.