[1] The museum houses major jewelry pieces and art acquisitions of the dynasty of Muhammad Ali and his descendants, who ruled Egypt for nearly 150 years from 1805 until the 1952 movement.

The mother of Princess Fatima had completed the construction of the western wing before her death, when her daughter had reached the age of eighteen.

Following 1952, the jewelry left by the Royal Family was kept secure and unseen until a 1986 decree by President Mubarak was issued to assign Princess Fatima Al-Zahra' Palace in Alexandria as a special museum to house those pieces.

Since late 2004, the Supreme Council of Antiquities has begun a comprehensive development and restoration process for the museum at an estimated cost of 10 million Egyptian pounds, with the aim of increasing its capacity to accommodate more valuable exhibits in stores that have not yet been displayed, and the museum was opened in April 2010.

Its walls and ceilings are adorned with oil paintings depicting various historical scenes and natural scenery.