Al-Ismaelia for Real Estate Investment won the International Centre for the Preservation of Architectural Heritage in Italy’s award for its development and renovation of the historic buildings in Downtown Cairo.
The company is working to revive the historical buildings in Downtown by examining the historical shapes of the buildings, using consultants to restore the original real estate, and developing a plan for the development of the buildings and the surrounding area, with investments of about EGP 200m, said Karim Shafei, chairperson and CEO of the company.
The director of the International Centre for the Preservation of Architectural Heritage said that what the company has done in the development and modernisation of historic buildings is a model for real estate developers in Egypt and across the world.
