The Egyptian government is seeking to settle disputes over the price of land and other issues with foreign and local property investors in a bid to rebuild confidence in the country’s property market.

One of the companies involved, Dubai property developer Damac, has filed an international arbitration case against Egypt over a land row and the conviction of its chairman and owner, Hussain Sajwani.

That case is one of several disputes over the price state land was sold to developers under former President Hosni Mubarak. Many Egyptians accuse Mubarak’s government of doing deals that benefitted the rich elite and top officials at the expense of the rest of the country’s 80m people.

Several cases claiming land was sold to too cheaply by Mubarak’s government were raised in the courts before the president of 30 years was ousted in February but disputes have gathered momentum and investor confidence has been shaken.

One Egyptian newspaper reported that the cabinet could reach a resolution over Damac and other cases in the next few days, but a senior official on the committee set up to negotiate settlements stated that it will probably take longer.

The official did not list all the firms but confirmed that they include Damac, another Dubai based conglomerate Al-Futtaim Group and Omar Effendi, an Egyptian retail chain owned by Saudi firm Anwal.

Courts have scrapped land contracts for Egypt’s two largest property developers, Talaat Moustafa Group and Palm Hills and two former government ministers have been sentenced to jail over illegal land sales.