التوفيق بين الحفاظ والإستثمار لمواقع التراث العمرانى ( الواقع والتحديات )

The urban heritage of the Arab countries represents a valuable national architectural and cultural wealth that connects the society of these Countries in the modern age with their historical roots. It is an important economic resource in the field of investment not only at the local level, but also at the international level. Conservation of this heritage and investment in it are therefore one of the most important economic basis for the sustainable development process. The problem of the Heritage investment is one of the most serious issues that face the heritage locations in most Arab countries that contain similar heritage locations. Investment operations in heritage areas are a process that requires communication and existence of new visions. This occurs as a result of the rapid local and regional changes in the comprehensive development process that takes place in those environments and their surrounding areas due to the factor of time and human change. Heritage preservation and investment projects are one of the most complicated operational processes because of the existence of a set of determinants and criteria that depend on the compatibility between conservation objectives and the change associated with the continuity of the heritage effective marketing. Such relation should be established in a way that works to flourish and preserve the heritage from extinction, and at the same time achieve the desired economic return on investment.   
Therefore, The study discusses the negative effects of dealing with the urban heritage sites, which can be seen in the separation between the conservation policies and the activation of the investment criteria and the economic aspects that in turn represent the economic and social benefit of the heritage zone. Based on the interest on the preservation and protection of the urban heritage and the activation of its role in sustainable development programs, the study focuses on the role of the urban heritage investment and its economic returns on the sustainability of the urban heritage sites through the idea of ​​reconciling between conservation and investment. The study highlights the economic importance of urban heritage. It defines the investment programs and methods and the probable source of funding. The study applied to one of the most important and oldest historical heritage areas in the historic Cairo (Al-Darb El-Ahmar) as a case study. It is also one of the suitable heritage areas for Investment due to its urban heritage elements and its historical and strategic location. The study monitors and describes the current situation and identifies the most important lessons learned from this case study. It also determines the investment considerations and their economic impact on the region. Moreover, it summarizes the lessons learned from some international cases. Accordingly, the study formulates a sustainable future vision and methodology that helps to invest in the heritage areas and conserve them at the same time. The developed vision and methodology can be applied in the urban heritage areas in Egypt and the Arab Countries. Finally, the study results emphasize the importance of the urban heritage investment. Investigations of the local and international practices can be considered a guide for the current and future studies. They also help in the formulation of the methodologies and the establishment of the conservation policies and investment systems and economic aspects to ensure the continuity of the prosperity of the urban heritage sites.