TWO businessmen, on Friday, unveiled a plan to construct a US$1.4B oceanfront megaproject called Maraiko Bay Golf & Country Club in Mahaica, East Coast Demerara.
The project is expected to be completed in 14 months.
The Construction and Investment Management Group (CIMGRO) is headed by
Ragindra Persaud of Nand Persaud Investments and Sudama Ramalingum of New Trend Auto.
The magnificent Maraiko Bay will be over 1,000 acre and will have the first of two Championship PGA-standard golf courses.
The luxurious estate homes of Maraiko Bay Golf & Country Club will be set amid the backdrop of a spectacular David Hemstock Signature golf course.
According to the Administrative Assistant of CIMGRO, Nadia Kalika, the venue is designed to be an up-scale community of tree lined streets, fine homes and modern amenities, just a short drive from the heart of Georgetown or using the conveniently located on-site heliport.
In a press statement, she explained that the megaproject will be located along two miles of fabulous beach on the Atlantic Ocean and bordered by the Mahaica River.
“The stunning course under the masterful hands of world renowned golf course designer, David Hemstock and member of the European Institute of Golf Course Architects, will offer magnificent vistas of waterways, canals, and of course, challenging Atlantic Ocean finishing holes! The addition of ex-Ryder Cup Captain, Mark James scheduled to establish his National Golf Academy, there will only enhance the quality of the facility,” she said.
Kalika noted that Guyana is expected to be an oil-rich nation and this has led to an influx of major industry players such as Schlumbergers, Haliburton, Repsol, Saipem and Baker Hughes.
“The ocean’s warm waters and wide sandy beach are key features in the country’s first mega real estate project that offers green economy strategies, solar power, underground utilities, top security and amenities, and where for a fraction of Miami South Beach prices, you too can call this home,” she noted.
With a newly-installed government that is focused on economic growth and job creation, Kalika said President Irfaan Ali and Prime Minister, Brigadier Mark Phillips, both wished the developers every success as 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.
REALISATION OF A DREAM
According to CIMGRO Chairman, Ragindra Persaud, “this is the realisation 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 stated that an MoU had already been signed with the Petroleum Club, headed by John Moore 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 condos, 200 luxury homes and 50 executive homes, commercial centre and other amenities all set for completion within 14 months.
According to Rudy Ramalingum, COO of CIMGRO, “The project is one with many firsts in the developing country – first 18-hole golf course, first marina, first all-inclusive secure community and first mega real estate development project that is almost 30 per cent of the size of the capital city Georgetown! The championship golf course will be a part of a US$1.4B development that will eventually provide top-notch medical facilities, internationally rated schools, fine hotels, world-class shopping and fine dining. Maraiko Bay definitely will be the gold standard of living for the thousands of expats and re-migrants who are set to call Guyana home for the next 50+ years.”
Additionally, sea defence and environmental protection, (budgeted at more than G$430M) will be overseen by Earth and Marine Environmental Consultants one of the world’s most reputable companies in modeling sea defence, ocean rise and environmental impacts.
EAME has managed and consulted for hundreds of similar projects in more than 35 countries worldwide.
CIMGRO has engaged Dallas Thomas of Praetorian Executive Protection Services Inc., a USA-Guyana-based security firm to handle its security implementation. Thomas is a highly-trained ex-US military personnel and is dedicated to ensuring that the highest standards are provided to the project.
Chairman of the National Development Council for Region Five, Henry was demonstrably excited at the growth the project would bring to the area in terms of direct employment and development of local businesses.
“I am happy to be at the forefront of this incredible project as we see Region Five as the next growth centre for the country and with many projects slated for this area, this will be the catalyst for our phenomenal job and business development.”
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 that is struggling to keep up with the influx of expats and re-migrants.