I am also living here in Hurghada (from Bolton,UK) and El Gouna is nice its also very expensive compared with the rest of Hurghada.From property prices to food etc the prices are comparable to UK prices.
There are far better projects around Hurghada..its easier being here as the prices offered by the various developers to the tourists can be greatly inflated.
Also be very wary of completion dates...especially if you are buying as a rental investment....the dates are always way off.

Ex-Boltionian living in Hurghada