The financing agreement, which was sealed on Tuesday, marks a critical step in delivering what has been dubbed the "Project of the Century"—a 42,000-seat stadium along with a sports hospital, museum, university, sports school, and hotel in Sheikh Zayed City.
While the initial EGP 4 billion investment will fund a significant portion of the first phase, sources close to the project say that additional financing will be secured to cover the remaining costs.
“This is more than just a stadium; it’s a comprehensive sports investment project that will change the landscape of Egyptian football,” said Mohamed Kamel, CEO and Chairman of Al Qalaa Al Hamraa.
The project has been a long-standing ambition for Ahly, whose board approved the initial designs on Monday. Despite previous attempts—such as securing a 25-year lease of Al-Salam Stadium in 2019—the club has continued to rely on Cairo International Stadium for its high-profile matches.
The latest updates on the project are expected to be revealed during Friday’s FIFA Club World Cup trophy ceremony, where Ahly officials will provide further insights into the stadium’s construction timeline and long-term vision.
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