|20 February, 2020

TMG holding's unit amends concession right of Sultana Malak land

IKON will develop and establish a five star hotel

ArabFinance: Talaat Moustafa Group(TMGH) said that its subsidiary, the Arab hotel and Tourism Investment Company (IKON) signed with the Egyptian General Company for Tourism & Hotel (EGOTH) a contract to amend the concession rights of Sultana Malak land in Luxor.

Under the agreement, IKON will develop and establish a five?star hotel with investment costs of EGP 1.5 billion.

The hotel will be constructed on 21,400 sqm on Sultana Malak Land that owned by EGOTH.

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