Two businessmen have joined forces to launch a new housing company that intends to build what is being pushed as a modern mega city in Guyana.
Under the Construction and Investment Management Group, headed by businessmen, Ragindra Persaud of Nand Persaud Company and Sudama Ramalingum of New Trend Auto, the Maraiko Bay Oceanfront mega project is to be built on 1000 acres of land in the Mahaica area.
The project is expected to carry a cost of US1.4 Billion. In addition to luxury homes, it will also feature a golf and country club and other facilities.
According to the company, “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.”
The project is to be located along two miles of beach on the Atlantic Ocean and bordered by the Mahaica River.
The developers have already written to the government about the proposed project and have received best wishes from the President and Prime Minister.
According to company’s Chairman Ragindra Persaud, the project 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.”
Phase One of the project will see the construction of 150 condos, 200 luxury homes and 50 executive homes, commercial center and other amenities all set for completion within 14 months from the start date. A number of international investors are expected to be major partners in the project.
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