US$1.4B oceanfront real estate project announced

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Construction and Investment Management Group (CIMGRO) – headed by two of the nation’s leading businessmen, Ragindra Persaud of Nand Persaud Investment and Sudama Ramalingum of New Trend Auto – has announced a US$1.4B project for Mahaica, East Coast Demerara.

Called “Maraiko Bay Golf & Country Club”, it will be built on a 1,000-acre plot and will feature luxurious estate homes and golf courses.

In a press release, it was noted that the luxurious estate homes of “Maraiko Bay Golf & Country Club” will be set amidst the backdrop of a spectacular David Hemstock Signature golf course and 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 the historic capital city of Georgetown via the newly renovated highway or using the conveniently located on-site heliport.

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Modern Mega City Set to be Built in Guyana

Construction and Investment Management Group (CIMGRO), headed by two of the nation’s leading businessmen, Ragindra Persaud (www.nandpersaud.com) and Sudama Ramalingum (New Trend Auto) today unveiled that Phase I of the magnificent Maraiko Bay 1,000+ acre US$1.4B oceanfront megaproject, “Maraiko Bay Golf & Country Club” the first of two Championship PGA-standard golf courses would start construction.

The luxurious estate homes of Maraiko Bay Golf & Country Club will be set amidst the backdrop of a spectacular David Hemstock Signature golf course and 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 the historic capital city of Georgetown via the newly renovated highway or using the conveniently located on-site heliport.

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 (www.hemstockassociates.com) 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.

In this newly oil-rich nation, where recent massive discoveries by Exxon Mobil Guyana (partners with Hess and CNOOC) 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!

With a newly installed government that is focused on economic growth and job creation, President Dr. 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.

As Exxon’s previous country manager Mr. Darren Woods emphasized in a recent statement, Liza Phase I operations were not overly impacted by Covid-19 and that they would continue ramping up for Phase II as planned, all indications are that Guyana will become the most vibrant economy in the region. And with GDP growth pegged by the IDB at 54% (reduced due to the Covid outbreak), this is the perfect time for the launch of the country’s first mega real estate project since Guyana is set to explode with demand for secure housing, recreation, leisure, medical and education facilities, all of which are located on-site at Maraiko Bay.

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.”

Mr. Persaud stated 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 condos, 200 luxury homes and 50 executive homes, commercial center and other amenities all set for completion within 14 months.

The project management team comprises knowledgeable persons such as Michael Dodds RIBA, CEO of the IEA Group www.theieagroup.com, which has been at the forefront of development of large scale projects in the Caribbean, Mexico, Costa Rica, Kuwait, Dubai, US and UK, and Dr. Ollie Hemstock, Strategic Design Consultant www.hemstock.design who has years of architectural experience with HCD Architects, www.hcd.co.uk whose clients include retail giants such as Westfield, IKEA, Murcia Sports Park, Brentwood Hospital, David Lloyd Sports, etc. They will head CIMGRO’s Executive Design and Construction Team who are in charge of the implementation of the project including the following:
• Inter Caribbean Design Studio, comprising of FERACON Planning & Design Consultants NV and Jill Jaeger Architects
• SUNECON VOF – Civil Technical Engineers;
• Johnson Construction Ltd. – Retaining wall construction;
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% 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 defense and environmental protection, (budgeted at more than G$430M) will be overseen by Earth and Marine Environmental Consultants (www.eame.co.uk), one of the world’s most reputable companies in modeling sea defense, ocean rise and environmental impacts. EAME has managed and consulted for hundreds of similar projects in more than 35 countries worldwide.

CIMGRO has engaged Mr. Dallas Thomas of Praetorian Executive Protection Services Inc. (www.praetorianex.com) a USA-Guyana based security firm to handle its security implementation. Mr. 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 5, Mr. 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 5 as the next growth center 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.