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.
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.
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.
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.
Comments
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
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!
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
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G$430 is the equivalent of around US$20M. The current budget for all Guyana sea defense is $25M.
In perspective..
This is excellent news. It would be great for the people of Guyana and will help to alleviate their sufferings Insha Allah
Really !
How will it ?
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Simple Simon says
With 1$usd = $209 Guyd$
No contest !
David v Goliath
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