To add the official announcement and details

CAIRO, Sept 7 (Reuters) - Egyptian-listed Emaar Misr for Development signed an agreement on Sunday to build a tourism project on Egypt's Red Sea coast with Saudi and Emirati partners.

Emaar indicated that the project could eventually attract investments amounting to 900 billion Egyptian pounds ($18.58 billion).

In addition to Emaar Misr for Development, Sky Tower Real Estate Development and Golden Coast, owned by Saudi Arabia's City Stars, are participating in the project.

Officials from these companies announced the agreement at a televised ceremony in Cairo on Sunday, attended by Egyptian Prime Minister Mostafa Madbouly.

Emaar Misr , which is almost wholly owned by Emaar Properties, Dubai's largest real estate developer, owns a stake in Sky Tower.

Hassan Al-Sharbatly, Vice Chairman of City Stars, said the project will begin soon and has been named "Marassi Al-Sahraa."

According to a statement issued by the companies, the project "is expected to generate revenues of US$100 to US$200 million annually from tourism activities."

The new project was first announced in February of this year.

Egypt is striving to attract major investment projects to bolster its economy, which is suffering from a chronic financial crisis and the economic repercussions of the war in Gaza.

Last year, ADQ, an Abu Dhabi sovereign wealth fund, led a consortium to invest $35 billion in Egypt to develop the 170 million square meter Ras El Hekma area overlooking the Mediterranean.

(USD = 48.4300 Egyptian pounds)

(Press coverage by Moamen Saeed Atallah and Mohamed Ezz - Prepared by Rehab Alaa for the Arabic bulletin - Edited by Moaz Abdel Aziz)