Al Ismaelia Wins World Economic Forum Recognition for Downtown Cairo

Al Ismaelia for Real Estate Investment has become the first Egyptian company and the first in the Middle East and North Africa (MENA) to receive the World Economic Forum’s Beyond Tourism Impact Stars recognition, following international recognition of its efforts to revive Downtown Cairo.

The company’s 'Reviving Downtown Cairo' initiative was selected as one of six projects in the inaugural cohort of the World Economic Forum’s Beyond Tourism Impact Stars, in the Infrastructure and Real Estate category. The recognition was presented during the Forum’s first Beyond Tourism Day in Geneva on September 25th, with Al Ismaelia Chairman and CEO Karim Shafei receiving it on behalf of the company.

Developed by the World Economic Forum in partnership with Saudi Arabia’s Ministry of Tourism and in collaboration with Kearney, the Beyond Tourism Impact Stars programme identifies private-sector initiatives addressing challenges facing travel and tourism while creating value for businesses, destinations and communities.

Al Ismaelia was recognised for an approach that combines the restoration of historic buildings with adaptive reuse, allowing properties to return to active economic and cultural life rather than being preserved solely as architectural landmarks.

The company’s portfolio currently spans 25 properties across Downtown Cairo. Since its establishment in 2008, Al Ismaelia has focused on restoring the district’s historic buildings and adapting them for contemporary uses, with properties now accommodating hospitality, offices, retail, creative businesses and cultural activities.

Among the projects are Cinema Radio, which combines cultural events with offices, shops and food and beverage venues; La Viennoise, which includes a boutique hotel and rooftop venue alongside spaces for local brands; and Nabarawy Fashion Hub, which provides a home for independent Egyptian fashion brands. Tamara Haus similarly brings together hospitality, dining, design, retail and cultural activity within a restored heritage property.