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Gamsha Bay handover starts

The Egyptian Ministry of Tourism has authorised the Tourism Development Authority to commence the initial hand over of Gamsha Bay to Damac Properties. The on-site survey took place earlier this month, 60km north of the Red Sea resort of Hurghada. Damac reached an agreement with the Egyptian government regarding the US $16 billion (EGP91 billion) Gamsha Bay development, which will cover 96 million m², in December.

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