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.

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

The company said the projects extend its adaptive reuse model by increasing occupancy, diversifying revenue streams and integrating heritage buildings into a mixed-use urban district.

Karim Shafei, Chairman of Al Ismaelia for Real Estate Investment, said: “Environmental, Social, and Governance (ESG) standards are embedded in how Al Ismaelia operates as a company, engages with the Downtown community, and approaches its projects. They guide how decisions are made and capital is allocated, and how the Downtown portfolio is developed over time At the asset level, this is reflected in how restoration is carried out, how infrastructure is upgraded, and how each building is managed to function as part of a wider, connected district.”

In October 2025, the company had launched TamaraHaus, a reimagined early 20th century Neo-Renaissance landmark building as a design, art, retail, F&B, and hospitality hub in collaboration with Alchemy Experience.

In March 2025, Zawya Projects had reported that Al Ismaelia will invest up to 300 million Egyptian pounds ($6 million) throughout the year to further develop its portfolio.

Founded in 2008 as Egypt’s first private developer dedicated to the adaptive reuse of Downtown Cairo’s historic buildings, Al Ismaelia focuses on repositioning historic assets into commercially viable uses spanning hospitality, retail and cultural sectors. The company currently owns 25 heritage properties across Downtown Cairo with a total area of approximately 85,000 square metres (sqm) with a target of expanding its portfolio to 50 properties by 2027.

(Writing by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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