€1.5 million transfer has been agreed between the two clubs.
Hegazi, who stands at 6’4”, has made five appearances so far for Ismaily, and has established himself as a key member of the side this season.
The 20-year-old was part of the country’s Under-20 side, which secured qualification to the Olympic Games in London in 2012.
This year he debuted for Egypt’s senior team in the 0-2 loss to Brazil on November 14.