Language: ع E


History of the Company

Al Ismaelia for Real Estate Investment S.A.E. (“Al Ismaelia”) was born out of a shared passion for Downtown Cairo’s rich history and future potential. Beltone Financial (“BPE”) founder Aladdin Saba envisioned a project in which Downtown Cairo’s historic buildings of which nearly half are government owned properties would be consolidated and refurbished, thereby increasing the value of these assets while simultaneously returning the long forgotten aesthetic grandeur to the heart of Egypt’s capital city.

Meanwhile, Cairene Downtown enthusiast and entrepreneur Karim Shafei began a search to purchase a building in Downtown Cairo, with the belief that on the long run people will realize the buried value in Downtown and the district will be revitalized. As he started the search for a building Mr. Shafei realized that most family owned buildings were offered for sale and he saw more immediate potential with the idea of acquiring a number of buildings and initiating the revitalization process.

In 2008 Mr. Saba and Mr. Shafei joined forces to establish Al Ismaelia for Real Estate Investment, launched under Law No. 8 1997. Together they envisioned a commercial project whereby landmark buildings would be acquired and renovated, maintaining the property’s original structure and architecture, while refurbishing the interiors. The restored buildings will be repurposed to attract a range of residential and commercial tenants with the purpose of revitalizing Downtown Cairo as a location with appeal for all segments of Egyptian society.

With a paid-in capital of EGP 563 million, Al Ismaelia currently owns around 20 buildings in Downtown Cairo.