The valley stands on the west bank of the Nile, opposite Thebes (modern Luxor), within the heart of the Theban Necropolis. The wadi consists of two valleys: the East Valley (where the majority of the royal tombs are situated) and the West Valley (Valley of the Monkeys.With the 2005 discovery of a new chamber and the 2008 discovery of two further tomb entrances, the valley is known to contain 63 tombs and chambers (ranging in size from KV54, a simple pit, to KV5, a complex tomb with over 120 chambers). It was the principal burial place of the major royal figures of the Egyptian New Kingdom, as well as a number of privileged nobles. The royal tombs are decorated with scenes from Egyptian mythology and give clues as to the beliefs and funerary practices of the period. Almost all of the tombs seem to have been opened and robbed in antiquity, but they still give an idea of the opulence and power of the pharaohs.