Karim Shafei, CEO of the company, said that the company aims
to acquire several buildings in the coming period to start their development
and expand its portfolio. He added that this requires an increase in capital,
noting that the company plans to implement the capital hike during the fourth
quarter of this year or early next year through investors and bank financing.
Shafei indicated that the company’s plan extends over the
coming years, as it is currently negotiating the acquisition of several
buildings. He expects another capital increase of about EGP 3 billion to be
approved within three years.
He explained that Al Ismaelia Real Estate Investment Company
has allocated EGP 300 million in 2025 to develop its existing assets in
downtown Cairo. He emphasized that the company views the area as a unique
historical district that reflects Egypt’s rich heritage.
Shafei added that the company has a comprehensive vision to
develop this vital area and is working to revive its role as part of Egypt’s
history and heritage. The area has exceptional characteristics and potential
that could make it a main destination for tourism, entertainment, and
investment.