Guyana: Infrastructure Development: US$1.4b luxury project for Mahaica

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An artist’s conception of what the development will look like
An artist’s conception of what the development will look like

The mega-project will be located along two miles of the Atlantic Ocean beachfront and bordered by the Mahaica River and will have features that include, luxury homes, 18-hole golf course, solar power, underground utilities, top security and amenities.

Access to the development would be via the newly-renovated East Coast highway or an on-site heliport.

The golf course is the creation of golf course designer David Hemstock (www.hemstockassociates.com), member of the European Institute of Golf Course Architects, and will offer vistas of waterways, canals, and the Atlantic Ocean.

According to CIMGRO’s Chairman Ragindra Persaud, “This is the realization of a dream that will put Guyana on the map as a top investment, tourist and second home destination. I am proud of our entire team that has been working for more than four years to create a masterpiece that will showcase our country’s natural beauty. This allows for creation of thousands of construction, tourism and sports related jobs that we desperately need as the country grows. We have put together a team that we feel has the ability to deliver a project of this magnitude.”

Persaud disclosed that an MOU had already been signed with the Petroleum Club, headed by John Moore (www.jmmoore.biz) Chairman of Agraria Inc for a 75-unit luxury housing complex including a clubhouse, restaurant and leisure facilities. In addition, Phase I will encompass 150 condominiums, 200 luxury homes and 50 executive homes, a commercial centre, and other amenities all set for completion within 14 months.

Additionally, sea defence and environmental protection, budgeted at more than G$430 million will be overseen by Earth and Marine Environmental Consultants (www.eame.co.uk), one of the world’s most reputable companies in modelling sea defence, ocean rise, and environmental impacts.

CIMGRO has also engaged Dallas Thomas of Praetorian Executive Protection Services Inc (www.praetorianex.com) a USA/Guyana based security firm to handle its security implementation.

The release said that President Irfaan Ali and Prime Minister Mark Phillips both wished the developers every success stating that this massive project will guarantee the rebirth of Guyana’s economic dominance in the region, since it addresses several key growth sectors and provides thousands of varied skill-set jobs.

CIMGRO plans to immediately engage several local and regional contractors to ensure that they can meet the tight delivery schedule for infrastructure and construction due to the demand for quality housing (starting under US$150,000) in a country it says “is struggling to keep up with the influx of expats and re-migrants.”

More information about the project, available properties and investment opportunities can be had by visiting their Facebook page: Maraiko Bay, contacting a Century 21, ERA, REMax, Sotheby’s International or Coldwell Banker realtor or enquiries@cimgro.com.

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Comments

  • kamtanblog  On August 31, 2020 at 3:31 am

    Question
    Is sea defences secure to prevent flooding ?
    Tsunami possible ?
    Maybe this project should be re-located on
    higher ground where there is no flooding
    ever. Beachfront properties are a high risk of
    flooding ….GT little Venice when spring tide and
    monsoon are in tandem !

    Think decades not years ahead

    My two cents

    Kamtan

  • brandli62  On August 31, 2020 at 10:24 am

    Does this project rein in a new era in Guyana or will it remain just fiction? In principle, it’s nice to see that big development projects are no longer a fantasy in Guyana but many questions remain. Here are just a few:
    – Who owns the land that will be made available for the Maraiko Bay Real Estate Project?
    – Who is financing the 1.4 billion USD project?
    – Who is paying for the improvements of the sea defences and environmental measures? The allocated budget of 430 million GYD or 2 million USD is unrealistically low, particularly in comparison to the planned investment volume of 1.4 billion USD!
    – How will the government make sure that the project is free from corruption or money laundering?

    Many more questions than answers!

    • kamtanblog  On August 31, 2020 at 12:49 pm

      Speculative pipe dreaming !
      $150.000 + apartments on swampland ?

      Prefer a mud hut in middle of amazon
      for retirement ! Safer among wild animals than
      Ex city humanoids !

      QED

    • Jason  On September 8, 2020 at 6:51 am

      G$430 is the equivalent of around US$20M. The current budget for all Guyana sea defense is $25M.

      In perspective..

  • Zabeeda Yamin  On August 31, 2020 at 7:39 pm

    This is excellent news. It would be great for the people of Guyana and will help to alleviate their sufferings Insha Allah

    • kamtanblog  On August 31, 2020 at 10:52 pm

      Really !
      How will it ?

      • kamtanblog  On September 8, 2020 at 7:33 am

        Simple Simon says
        With 1$usd = $209 Guyd$

        No contest !
        David v Goliath

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