Egyptian real estate company Abraj Misr plans to invest E£4.5 billion ($587 million) for the development of The Gate, an eco-friendly project which will come up over a 35,000 sq m area in capital Cairo, said a report.

The Gate is poised to become the largest residential, administrative, smart and eco-friendly project in the country, reported the Daily News Egypt, citing senior company officials.

It enjoys a very strategic location, on Al Nozha Street, with strong connections to Cairo Airport and main arteries of the city, said the report.

It is a luxury mixed-use development that offers residential, commercial, retail, and offices units, in addition to a five-star hotel.

The project, which includes solar water heating, wind turbines, green areas and roof terraces, will kick off in April this year, it added.