Some post cards with this image are captioned “Native Coffee House” (presumably referring to the people seated on the left).
Port Said is at the Mediterranean end of the Suez Canal, that’s why it was developed. Early in the 20th century it became a major trading port and had a fast-growing population of people from all around the Mediterranean. The buildings were tall, with many balconies & verandahs, and commonly built of wood (see link below), which gives the city a fairly distinctive appearance. The European quarter was more substantial buildings and tree-lined streets. (Here.)
I’m not sure about the location of this one. Down the road a bit more and on the right (not visible in this image) is El-Tawfiqi Mosque, which seems to be here and there might be water in the background, so the street might be sort of around here.