Arab Finance: The Egyptian General Company for Tourism and Hotels (EGOTH), affiliated with the Ministry of the Public Business Sector, signed a contract to operate and develop the Jet Beach Hotel in Ain Sokhna, owned by Petrojet, according to a statement.

Minister of the Public Business Sector Mohamed Shimi and Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of the agreement.

Under a 20-year usufruct deal, the project's investments stand at EGP 120 million, spanning an area of 15,300 square meters.

Meanwhile, the development work is scheduled to be completed within 18 months.

The project is part of the government’s plan to maximize returns from state assets, support tourism development, and create job opportunities.

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