Al Ismaelia for Real Estate Investment inaugurated on Saturday La Viennoise building, the first environmentally friendly historical building in Downtown Cairo.
In the attendance of Ibrahim Mahlab, assistant to the president for strategic and national projects, and the deputy governor of Cairo, Al Ismaelia inaugurated La Viennoise building after its development according to the latest environment-friendly methods and technologies.
The building will be the headquarters of Tharwa Capital.
For his part, Mahlab praised the development works of the building, which was developed in coordination with the National Committee for Developing and Protecting Historic Cairo.
Cairo Deputy Governor Ayman Abdel Tawab said that Khedival Cairo is currently witnessing a fast, dynamic movement towards restoring its beautiful and historical value.
Abdel Tawab noted that the restoration and renovation of historical buildings in Downtown is one of the challenges facing the government.
Abdel Tawab pointed out that the governorate is very interested in developing several streets in cooperation with all stakeholders.
For his part, Karim Shafei, chairperson of Al Ismaelia for Real Estate Investment, said that the company’s expansion plan includes developing 23 historical buildings, including the French Council building, Radio Cinema building, and Kodak building, which is scheduled to be completed by the end of 2018.
“The company will keep working as a key element in reviving the historic buildings in the city,” Shafei noted. “The company is taking the responsibility of purchasing the old buildings and renovating them, and then offering these buildings for rent.”
Alaa Sabaa, founder and board member of Al Ismaelia for Real Estate Investment, said that the experience of redeveloping heritage properties according to the latest modern building standards is environmentally friendly in many countries around the world, including Britain, the United States, and Germany.
Al Ismaelia is pioneering the development and reuse of entire areas. The company is the first Egyptian joint stock company with joint Arab-Egyptian capital involved in the development and renovation of historic buildings and facilities in Khedival Cairo.