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 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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