New Saudi developer Magnom Properties partners with Burj Khalifa architectural firm
Saudi Arabia’s Rawabi Holding has launched its real estate arm, Magnom Properties, which will undertake high-value development of residential and other projects in the Kingdom, Egypt and elsewhere in the region.
Rawabi Holdings has so far focused on oil and gas, marine, contracting and manufacturing. “We will focus on projects shaped by world-class contemporary design solutions and attention to the environment,” said Othman A. Ibrahim, CEO. “We understand how crucial it is to continue to develop our businesses, and expanding into real estate is part of our growth strategy.”
For the launch, the company’s board meeting brought together Adrian Smith and Gordon Gill, representing their company, AS+GG Architecture. They were responsible for the design of the Burj Khalifa as well as the Jeddah Tower, which will be among the tallest structures in the world. They also participated in the Central Park Tower in New York, which is now the tallest residential building in the world.
“With Adrian Smith and Gordon Gill as architects, we are confident that we have the right expertise to do just that,” said Maged Marie, CEO of Magnom Properties. “AS+GG’s architectural designs have evolved tremendously over the years to become more versatile and sustainable, exploring new technologies, eco-friendly materials and other energy-efficient practices in their design concepts that will help build a more sustainable future for generations to come. ”