Cairo, Egypt – 21 October 2025 – Al Ismaelia for Real Estate Investment, Egypt’s leading heritage-focused developer, announced a strategic alliance with global real estate consultancy Knight Frank to deliver a flagship project in Downtown Cairo. The collaboration will cover project and cost management for 18 serviced apartments in the company’s historic building on 10 Mahmoud Bassiouni Street, one of Al Ismaelia’s landmark assets.
The partnership underscores Al Ismaelia’s mission to rejuvenate Downtown Cairo through adaptive reuse, transforming historic buildings into vibrant, modern spaces while preserving their cultural and architectural heritage.
Raising the bar for Downtown projects
Knight Frank will provide project and cost management services, covering schedule oversight, tendering, value engineering, risk management, and construction supervision. These services will ensure the timely delivery of the serviced apartments to the highest possible standards while safeguarding the authenticity of Downtown’s heritage character.
A shared commitment to excellence
Karim Shafei, Chairman of Al Ismaelia for Real Estate Investment, said: “Al Ismaelia is continuously striving to set the highest standards in everything that we do. Our alliance with Knight Frank is focused on benefiting from their international experience in project management to ensure that our projects are delivered on time and at the highest quality. For this project, our focus is on delivering 18 serviced apartments, each one designed to be completely unique and to offer visitors to Cairo the feeling that they have lived in a true Egyptian home. This requires attention to detail, complex scheduling, and hands-on management – and this is exactly where Knight Frank’s expertise brings tremendous value to the collaboration. Together, we are making every unit warm, welcoming, and truly reflective of Cairo’s cultural identity.”
Moataz A. Mosallam, Partner and Head of Project & Development Services for MEA at Knight Frank, said: “We are excited to work alongside Al Ismaelia on this landmark project. Our team brings a wealth of local knowledge and international expertise, and we are committed to delivering world-class project and cost management services. With Al Ismaelia, we aim to create a benchmark for serviced apartments in Downtown Cairo that combines modern living with heritage preservation.”
Building on Al Ismaelia’s vision for Downtown
Founded in 2008, Al Ismaelia for Real Estate Investment is the first private Egyptian company to pioneer adaptive reuse of heritage buildings in Downtown Cairo. Today, it owns 25 historic properties spanning more than 85,000 sqm and is on track to double its portfolio to 50 buildings by 2027. Through its developments, Al Ismaelia attracts millions of visitors annually, curates cultural events, and nurtures local businesses while preserving the district’s authentic Egyptian identity.
This partnership with Knight Frank represents a significant step in Al Ismaelia’s growth strategy. It reflects the company’s commitment to investing in exceptional real estate assets and offering distinctive experiences that position Downtown Cairo as a modern, contemporary, yet authentically Egyptian destination.