After the success of the Alexandria Stock Exchange, built in 1883, this was the 2nd exchange, or the Borsa Gedida. Named the Khedival Exchange, it opened in 1907 and was designed by the French architect Eduard Matasek (who also designed the Chaar Hashamayim Synagogue on Adly St.), although the design was originally awarded to the French architect Raoul Brandon (designer of the Orosdi-Back/Omar Effendi department store on Abdel Azziz St.), and remained in action until 1928 when the new Art Deco bourse was opened a few blocks south. The project developer was Cattaui, who was the developer of the Helwan train line, the Bab El Louq market, and one of the leading developers of Maadi. At the time, the exchange was ranked fifth in the world, thanks to the country’s booming cotton market. During WW1 it was convertedto a WMCA and served as barracks for the ANZAC troops.