I would guess that prime beachfront actually in Hurghada would be more expensive than Sahl Hasheesh simply because of the rarity factor - there's a lot more beachfront available in Sahl Hasheesh than there is actually in Hurghada.
My guess is that the new development right next to the Intercontinental will come on the market at a shade under GBP1000/m2
Let's wait a few months and see which of us was closer to the mark!
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