The midfield wizard has been the Whites most wanted player of late, with Belgian duo Anderlecht and Standard Liege among the suitors.
While Zamalek chairman Galal Ibrahim admitted that selling Shikabala is an option, he stressed that the 24-year-old will only leave under certain conditions.
"Yes Shikabala could be leaving us in the near future, but only under specific conditions," the interim Zamalek chief said.
"First of all, it must be a satisfying offer from a non-Egyptian club.
"Shikabala must be willing to go, (manager) Hossam Hassan should approve it and finally, a competent replacement has to be signed."
Shikabala has repeatedly announced his desire to move to a European club, even so Zamalek rejected a €3million bid from Anderlecht in the summer.
It is believed that the Whites are in talks with MCDR ace Ayman Hefni over a winter switch, in case Shika left in January.