Cairo – Mubasher: The Egyptian General Company for Tourism (EGOTH) has signed an agreement with the Arabian Company for Touristic & Hotel Investment to build a five-star hotel in Luxor.

The new hotel will include 200 rooms and suites, along with restaurants, meeting rooms, and a gymnasium, with total investments of EGP 1.5 billion, according to a statement released on Tuesday.

The hotel will be situated on EGOTH’s Sultana Malak Land which spans 21,400 square metres.

Under the agreement, the Arabian Company will own the hotel, while EGOTH will retain the ownership of the land and will receive a proportion of the hotel’s revenue.