Language: ع E


Acquiring a Building

Al Ismaelia considers a number of factors before acquiring a building in order to guarantee secure investments while maximizing the Group’s impact on Downtown Cairo’s revival. Each potential acquisition is assessed for its architectural value, structural soundness, proximity to buildings in Al Ismaelia’s current portfolio, legal feasibility and repurposing potential. When a building is deemed an attractive investment opportunity, Al Ismaelia initiates communication and negotiation with the building’s owners. Negotiating the purchase of a building is never a simple process especially in Cairo, where inheritance law results in fragmented ownership of most older properties. Management is therefore subjected to the assiduous process of contacting and negotiating with each owner, of which there are often more than a dozen for a single building. In addition to negotiations with all owners of a prospective asset, all legal documentation of the building must be gathered to ensure a lawful transfer of ownership.

Once acquired; buildings undergo safety and maintenance inspection and an architectural drawing is designed to determine the structure’s needs regarding interior renovations and restorations of its facades. Al Ismaelia is committed to preserving and restoring the original architectural integrity of its acquired buildings as a vital component to the revitalization of Downtown’s aesthetic grandeur, though the infrastructure of these buildings will be updated to modern standards while maintaining the ethnic interior essence of the old Cairo buildings.