Arab Finance: Al Ismaelia for Real Estate Investment has secured financing from the European Bank for Reconstruction and Development (EBRD) to support its environmental, social, and governance-led redevelopment of heritage assets in Downtown Cairo, as per an emailed press release.
The agreement was signed at Mazeej Balad in the presence of Karim Shafei, Chairman of Al Ismaelia, and Jean-Marc Peterschmitt, Managing Director Corporate Sector at EBRD.
The financing will be used across a pipeline of historic and commercial buildings, with a focus on retrofitting and repositioning assets. It will also support the conversion of underutilized properties into operational assets that contribute to commercial activity in Downtown Cairo, alongside strengthening governance and reporting frameworks.
The agreement covers projects scheduled for 2026, including the Mahmoud Bassiouny project and La Viennoise Retail.
The Mahmoud Bassiouny project is being developed as a boutique hospitality concept, with each unit designed by young Egyptian designers and reflecting the identity of Downtown Cairo. La Viennoise Retail will introduce a retail concept centered on local Egyptian brands, alongside a dining component.
"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. This carries through to how we build the area's community across its existing and new tenants and residents, as well as the different uses we introduce," Shafei said. "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."
These projects are part of Al Ismaelia’s adaptive reuse strategy, which focuses on introducing new uses for heritage buildings to increase occupancy, diversify revenue, and integrate assets into a mixed-use urban environment.
Founded in 2008, Al Ismaelia owns 25 heritage properties across Downtown Cairo, covering approximately 85,000 square meters. The company continues to reposition these assets as commercially viable developments that combine hospitality, retail, and cultural uses within a single framework.
“Al Ismaelia’s portfolio presents a clear example of how heritage assets can be repositioned as economically productive real estate while meeting international environmental and social standards. We see strong potential in platforms that combine disciplined asset management with a structured approach to environmental, social, and governance practices, particularly in dense urban environments such as Downtown Cairo,” Peterschmitt stated.
