Unicomer turns sod for US$33M Commercial Complex

Unicomer turns sod for US$33M Commercial Complex

By Svetlana Marshall

Unicomer (Guyana) Inc. today turned the sod for its US$33 Million River Place Commercial Complex at Farm on the East Bank of Demerara, marking the commencement of the single largest retail investment in Guyana to date.

 Sub-Regional Managing Director of Unicomer, Vincent Gordon, in his address at the ceremony, said the multimillion project entails three phases, and is being supported through financing from the Inter-American Development Bank (IDB).  

The River Place Commercial Complex will feature a number of branded retail stores, in addition to a new Courts Mega Store among other facilities.

“In 18 months, this facility will transform into a state-of-the-art retail facility – complete with world class brand names, restaurants, a gym and much more! But more importantly, it will house our new Courts Mega Store, Ashley Home Store and our Courts Optical Store. Together, we are talking about 55,000 square feet for Courts Ashley. Nothing like that has been seen in Guyana,” Gordon disclosed. 

 Sub-Regional Managing Director of Unicomer, Vincent Gordon

Mr. Gordon also said the facility will form an important part of Guyana’s infrastructural development, and is a representation of Unicomer’s ongoing commitment to invest in Guyana and its people while delivering “a retail experience that is second to none.”

Unicomer Global Chief Executive Officer (CEO) and Chairman of the Board, Mario Siman said Unicomer is pleased to further cement its investment in Guyana, having started its operations here in 1991.

He said the commercial complex will be completed with a hotel, in addition to 400 parking spaces.  

An impression of the complex to be built

“At the same time, we are under construction for our largest logistic park for distribution centre here in Houston, Guyana. It is going to begin with 110,000 square feet of warehouse, and it is currently being built to be finished and completed by 18 months, and we needed urgently because right now we are renting like six warehouses,” Siman said. 

IDB Country Representative, Lorena Solorzano, said the IDB was pleased to reach an agreement with UNICOMER in April this year to finance the mega project. She said the transformative project will undoubtedly help to shape the future of the East Bank Demerara corridor, adding that it represents a significant milestone for the private sector in Guyana. 

Minister of Tourism, Industry and Commerce, Oneidge Walrond said the project augurs well for the development of the country.

“Organic investments such as this one, coming out of the Unicomer Group leads to the adoption of new technologies, new processes and equipment that can improve productivity and efficiency, and this helps companies overall to produce more goods and services with the same amount of resources leading to overall economic growth. As companies like yours, invest and expand in your operations, they often create new opportunities thus stimulating employment opportunities in the economy and the incomes derived from this employment increases consumers spending,” Minister Walrond reasoned. 

Unicomer has a large range of products and financial services across the countries of operations under its broad range of retail brands including Courts, Courts Optical, Ready Cash & Ready Finance, Ashley Furniture Home Store, RadioShack, Lucky Dollar and Servitech.

In Guyana, it has 25 branches and in the next 12 months, an additional four branches will be added. 

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