Egypt’s Al Ahly unveils plans for a new football stadium in Cairo

Linkedin Twitter

new football stadium in Cairo

At the recently held Egypt Economic Development Conference (EEDC) in Sharm El Sheikh (March 13-15 2015) Al Ahly Sports Club announced its plan for a new stadium in Cairo.

The project presentation at the event revealed that the new football stadium will have a capacity of 60,000. The arena is jointly designed by AS&P – Albert Speer & Partners GmbH in Frankfurt and GRID Cairo supported by ARUP Frankfurt.

Al Ahly had earlier hinted that the new stadium will cost nearly 3 billion Egyptian pounds ($393.28 million), according to media reports.

“We have to look for investment in sports for the first time in the history of Egypt,” Al Ahly’s president Mahmoud Taher announced at EEDC.

Taher has been earlier quoted by local Egyptiam media as saying that “progress has been achieved in the negotiations with some investors on this score”. Taher did not rule out naming the new stadium after the investing company, like the Stadium of Bayern Munich Club of Germany.

Earlier in January this year, Al Ahly unveiled plans to establish a joint-stock football company. This would make it the Egypt’s first independent club to meet FIFA standards for professional football teams on budget transparency and financial sustainability.

Al Ahly Club, which was founded in 1907, is owned by the state and hence cannot be traded, board member Mohamed Abdel-Wahab was quoted as saying by Ahram Online. “This is why we are creating a new football company to become a subsidiary of the club,” he explained.

Cairo-based investment bank CI Capital will arrange the Initial Public Offering (IPO), according to media reports.

« Previous News:
» Next News:

More News

Coliseum Summit EUROPE 2020 press release

Ascot Racecourse all geared up to host Coliseum Summit

Published: February 17, 2020

“We just started mid-last year with our Coliseum, Global Sports Venue Alliance and we are close... » Read more

Cape Town Stadium

New deal may finally take the edge off Cape Town Stadium

Published: February 17, 2020

The Cape Town Stadium – a football and rugby union stadium in Cape Town, South Africa, was... » Read more

Yankee Stadium

Yankees add gathering spaces to perk up fans’ spirits

Published: February 17, 2020

Two new social gathering spaces has been opened at New York’s famed Yankee Stadium for the 2020... » Read more

Melbourne Arena renaming

Melbourne Arena renaming an ode to John Cain

Published: February 17, 2020

The multi-use Melbourne Arena in Australia – underlined by its retractable roof – is all... » Read more

Newsletter sign-up