"Belkasi signed a four-year contract with Ahli, but he will be eligible to play by the start of next season," agent Wael Abdul-Fattah told FilGoal.com.
Ahli formulated a wide search for defenders in recent weeks, as they intend to reinforce their ageing backline.
Regular trio Shadi Mohamed, Wael Gomaa and Ahmed Al-Sayed experienced a stint of inconsistency in recent weeks, whereas backup center-half Rami Adel has fallen out with coach Manuel Jose.
In addition to Belkasi, the Red Devils are reportedly in talks with Asyut Petroleum defender Mahmoud Abdul-Aati 'Samna', despite both players' unfashionable names.
In the same context, the African champions have agreed to loan out youth team duo Ahmed Abdul-Rahman and Mostafa Talaat to the struggling Olympic.
The Alexandrians are second from bottom in the league table, and a return to the second division seems to be on the cards.