Any dates yet for the official release?

Sadly no. Very frustrating indeed.

The last mentioned date was 15th January 2008. Another two dates have been mentioned in passing. But until it happens - I guess the only people who have any idea are the top brass at Damac.

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Hi Everybody,

Well Damac is working very very hard to launch this fantastic project but there are many paper works and Bureaucracy issue to be finished before anything.

The Government has agreed the final Plans and designes, but there is still The Military intelligance Office has to finalised all the dopcuments and put any reservation regarding the location of the project.

Hopefully the project will Be soon on Jun maximum July. All i can say at the time being that the Morrocan and Egyptian Theme wil be launched first.

Hi Paul

Any idea on what they are thinking pricing wise. I think its great news Damac are coming into the market in Egypt as their good reputation will be v positive for Egypt. Pls keep me informed if an when you get any info.

Jeremy

Jeremy if you are interested you have to register your information to get special discount prices around 5 to !0% less than normal prices

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Anybody else think Gamsha Bay is just too Big and Demand may well stay below supply when it is finished?????

Just the feeling I had when I saw the plan and the numbers of aparments and villas

I think Damac will make a sucess of it but it is a long term project as all of these things are. Gouna took 10-12 years to get off the ground and this will too but Damac are well capitalised and im sure will be able to weather the inevitable ups and downs in the property market over that period. they have a reputation to protect and I believe the outlook for Egyptian properrty and the middle east is positive in the medium term but there will be setbacks in what is always a cyclical sector.

I saw in the FT today that Damac have today cancelled a large Dubai project that was already largely sold to overseas investors over the past several years. Speculation was that with rising building costs and now higher prices that they had sold it too cheap and now wanted to pull the scheme rather than build it at a loss. Legal action is being threatened apparantly by many purchasers who are not accepting Damacs explanation that they were forced by the masterdeveloper to move the site slightly. Interested to have your thoughts on this but can only be very damaging to Damacs credibility if there is even a shred of truth to the rumour.

I don't think there is room for yet another Luxury development on the Hurghada coast .The area is being hyped massively at the moment but only El Gouna has the proven track record in the area .Sahl is promising but still risky IMHO .I think there will be many disappointed investors in the near future .

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Hello everybody,I am new at this forum.I am following the news in Egypt and on the internet.i believe that the property value is going to rise that is for sure.I am waiting to buy something at gamsha bay,at the same time I do not know how much an appartment ther will cost,on the other hand I think that because of the gamsha project lots fo property will rise even more.what do you think?