The Egyptian property market is recovering following the Arab spring and cross-border investment is returning to the region with two real estate developers from the UAE reportedly reaching an agreement to spend around E£5bn (£515m) on building the Cairo Gate complex.

Sitting off the Cairo-Alexandra highway, the 65-hectare complex will include a shopping mall, office park, a luxury hotel, schools, medical facilities and residential space.

However, property prices are unlikely to skyrocket, with Egypt still grappling with a payment deficit, causing Cairo to seek a loan from the International Monetary Fund.