News: Egypt’s Al Ismaelia secures EBRD support for Downtown Cairo heritage redevelopment
27/04/2026
Zawya Press Release -- Egypt's Al Ismaelia for Real Estate Investment, which spearheads the Downtown Cairo revitalisation initiative, has secured financing from the European Bank for Reconstruction and Development (EBRD) to support redevelopment of heritage and commercial assets in Downtown Cairo.
Karim Shafei, Chairman of Al Ismaelia, and Jean‑Marc Peterschmitt, Managing Director Corporate Sector at the EBRD
Financial terms were not disclosed.
The financing will be deployed across a pipeline of historic and commercial buildings, with focus on:
- Deep retrofit and repositioning of heritage assets
- Conversion of underutilised buildings into income-generating operational assets
- Supporting commercial activity in Downtown Cairo
- Strengthening governance and reporting frameworks
- Advancing ESG standards across the portfolio
2026 development pipeline
The facility will also support projects scheduled for 2026, including:
- Mahmoud Bassiouny project – planned as a boutique hospitality concept featuring units designed by young Egyptian designers
- La Viennoise Retail – a retail and dining concept focused on Egyptian brands
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