I stopped by at Orascom's offices while I was there two months ago and was told that apartments in phase 2 will be EUR2000-3000/m2, making them two to three times more expensive than El Gouna.
I also heard that there are two real estate offices in El Gouna - one for foreigners and one for Egyptians, with the Egyptians paying a lot less than foreigners.
As a result, it can work out a lot cheaper to go through an Egyptian real estate agent as a middleman, even after paying his 5% commission.
I guess that it's a matter of taste, but I did rather find El Gouna to be a little claustrophobic compared to Sahl Hasheesh's wide vista that stretches out from wherever you are in the resort.
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