Construction and Investment Management Group (CIMGRO), headed by businessmen, Ragindra Persaud of Nand Persaud and Sudama Ramalingum of New Trend Auto recently unveiled Phase I of the Maraiko Bay 1,000 plus acre oceanfront megaproject, “Maraiko Bay Golf and Country Club” the first of two Championship PGA-standard golf courses to be constructed.
According to a release from the group, the venture is tagged at USD 1.4 Billion.
“The luxurious estate homes of Maraiko Bay Golf and 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 release stated.
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 Hemstock, member of the European Institute of Golf Course Architects, will offer magnificent vistas of waterways, canals, and of course, challenging Atlantic Ocean finishing holes said the release.
Additionally, ex-Ryder Cup Captain Mark James is scheduled to establish his National Golf Academy there which will enhance the quality of the facility.
“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,” the release stated.
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.”
Persaud stated that a Memorandum of Understanding 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 center and other amenities all set for completion within 14 months.
According to Ramalingum, Chief Operations Officer, “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, will be overseen by Earth and Marine Environmental Consultants, one of the world’s most reputable companies in modeling sea defense, ocean rise and environmental impacts.
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.
