So there has been very, very little movement of any kind with this site but I went and had a good dig around today and...
The website Tamuda-bay.com is no longer operational, this has happened before but the error doesn't look good!
You can still access https://www.ritzcarlton.com/en/hotels/tturz-the-ritz-carlton-tamuda-bay/overview/ but you can't get to that page through the new and upcoming list on the main site like you used to be able to.
Google maps looks no different to previous years but it was last updated in May 2024 but it's hard to tell if there's any activity in the area. There is some construction going on on the other side of the lagoon but as you can see the entrance to the RC site is at the Green Arrow and the construction is circled red so unlikely to be related.
I think this project is dead and buried for RC at least, it may be being sold under another name and it does look like at some point some of the residences were occupied but no RC involvement as far as I can tell.