Navigant Builders Inc, the developers of Windsor Estates, yesterday broke ground for a premier luxury commercial and residential community at Ogle, East Coast Demerara.
The community will be developed on 30 acres of land which were once used for sugarcane cultivation.
The National Industrial and Commercial Investments Limited (NICIL) on Tuesday announced that they had sold overseas-based Guyanese, Danny Sawh, land for the construction of the luxury gated community. Head of NICIL’s Business Development Unit, Rachael Henry, yesterday disclosed that the land was purchased for more than $780 million with each acre costing just over $26 million.
NICIL noted that Sawh is an overseas-based Guyanese investor with over twenty-four years of residential and commercial real estate experience as well as in construction. He is also the owner of Stonewall Contracting Corporation of NY.
Sawh’s new investment is pegged at US$84 million.
At the sod turning yesterday, Henry said, “This project will provide real employment over the construction period and post-construction phases [and] will see opportunities in the hospitality, sport, leisure and tourism sectors. Through this development, patrons of the community are promised a unique brand of exclusive suburban living and sophistication that depicts a lifestyle of elegance.”
She highlighted that the community will feature “very modern design homes, [a] commercial zone to include banks, medical facilities, a shopping area and exquisite restaurants.”
Further it was disclosed that the community will feature a man-made lake to enhance its external aesthetics. Patrons will also have access to swimming pools, multiple tennis courts, a basketball court, a 7,500 sq ft clubhouse that will be equipped with a game room, kids’ video game room, large-screen movie room with theatre-style seating and a gymnasium.
The developer is still to iron out minor details before moving forward with the planned development. Mark Thomas, Navigant Builders project manager, said that they are still to develop prices for lands and homes and also to approach persons to operate the commercial entities that are proposed to be a part of the community.
“Navigant Builders Inc as the developers of Windsor Estates, East Bank Demerara, is testimony of the type of foresight, planning and detailed execution that produces a community of excellence. Hence, NICIL’s due diligence assessment process with the director of Navigant was essentially effortless in terms of our requirements,” Henry declared.
Acting Chief Executive Officer of NICIL, Colvin Heath-London, in his brief address said that the sod turning activity is testament to his agency’s commitment to assisting local investors.
“As Government’s holding company… the vision of Mr Sawh is what encouraged us to allocate him 30 acres of lands. We continue to ensure that local investors are not left in the cold because we ensure there is a leveling playing field for all,” he said, before adding that they have brokered a deal that ensures that the majority of the work force in the construction and other phases of the development are Guyanese.
Heath-London added that his agency is only enabling and attracting potential business companies to come and access the investment climate here. “From the responses we are getting the message is clear, they like what they see, they are lining up to do business…” he stated before assuring that while NICIL has pursued investments aggressively, it is being done with the country’s best interests in mind and that no legal standards will be compromised or regulations will be overstepped.
Thomas declared, “This project is expected to be a hallmark and cornerstone in Guyana’s progressive development especially with the growing oil and gas sector and one of the intents is to definitely bring to life our theme… experience a new way of living.”
He stated too, that the vision of this development started two and half years ago when Sawh began to pursue lands and had approached NICIL, GO-Invest and the Guyana Sugar Corpora-tion.
“Today I can truly say that this is a tremendous opportunity for me and the Navigant Builders family since we will be embarking on another incredible journey from our flagship project, Windsor Estates, which is located on the East Bank,” Thomas remarked.
Coffers
Meanwhile, Regional Chair-woman of the Region Four, Genevieve Allen said the investment will contribute to the coffers of the Industry and Plaisance Neighbourhood Democratic Council. She also noted that the development will enhance the landscape of the region and boost its tourism potential with its amenities.
Minister of Public Health Volda Lawrence, who spoke on behalf of Government in her address said that the investment is strategic and feasible given that the Eugene F. Correia International Airport is located nearby. “I can visualise that this is the beginning of more things to come with the influx of tourist and investors here…” she added.
This is the third multi-million dollar US investment lined up to be a part of the Ogle community development.
Two weeks ago, the sod was turned for the AC Marriott and Hilton branded hotels to be constructed.
Trinuyana Investments Incorporated on February 11 broke sod to develop a world class, select service, internationally branded Hotel – AC Marriott Hotel, on the Ogle Airstrip Road.
According to the company, the US$75 million project is already underway with the commencement of geotechnical works and the hotel will be completed in 30 months. The construction of the hotel will bring additional rooms to add to the national hotel stock, which will (help) stimulate the local economy through additional employment opportunities and business development.
United States-based Guyanese businessman, Edmon Braithwaite, days after, turned the sod in the same community for the construction of his project which is a US$ multimillion Hilton Hotel.
The Hilton Hotel will be built on some 20 acres of land at Ogle recently purchased by Braithwaite’s company, Caribbean Marketing Enterprises Inc (CMEI). The project will include the construction of two branded hotels “uniquely positioned in a complex driven by solar power, therein consistent with Guyana‘s “green economy” vision. CMEI will construct the hotels in the 120-130 room range with world-class amenities inclusive of a miniature golf course, clubhouse, entertainment centre, swimming pool, solar farm and green space allocation,” NICIL had said. It had noted that the division of the land would be 7.5 acres for a solar farm, 5 acres for a club house/entertainment centre/mini golf course, and one hotel and its supporting commercial establishments will cover 4 acres while the other hotel will cover 3.5 acres.
