The US$100 million Pegasus luxury suites and corporate centre, which is perhaps the largest single investment by a Guyanese person, was commissioned last evening with proprietor Robert Badal hailing it as “historic” and “unrivalled in the region.”
Initially, the facility was slated to have 200 rooms to cater for high-level clientele but after looking at various accommodation trends and assessing the needs of intended clients Badal opted to construct just over 100 large suites ranging from 700 to 11 sq ft.
The facility was constructed by China Harbour Engineering Company and facilitated through financing from Republic Bank of Trinidad and Tobago.
Speaking at the opening, Badal said that many persons would reference the development as a product of Guyana’s oil boom but noted that it was conceptualized long before the country discovered oil.
“This project was conceived long before we found oil. We are happy that oil is here and we will have the spinoff effects but even without oil, this was conceived prior to that. This project here is in reaction to our need for capacity building, expanding our rooms and conference facilities, our offices,” he said.
Work on the facility began in July 2018 and according to Badal, the COVID-19 pandemic had set them back by approximately eight months.
Badal told the gathering that the facility is also a direct reaction to the vision of President Irfaan Ali in his quest to bring about transformational change in the country’s landscape. He noted that while everyone hails the oil and gas sector, it is the hospitality sector that really provides job stability to people.
He added that the opening of the facility marks one of the most important days of his life and dubbed it a historic accomplishment of Pegasus Guyana.
“Since 1969, instead of looking for the brown waters the famous [Pegasus] hotel [has served] as an iconic beacon for navigation and discovery. It is also a symbol of development. Now 52 years after, an all glass building, towering over the Atlantic Ocean and city skyline [with] large executive suites elegantly designed and furnished, large master bedroom suites, living rooms, kitchenette, this is the new symbol of our one Guyana.
“From a dumpsite of over 50 years to two magnificent buildings, comprising 100 Executive Suites on this 12-storey Atlantic Tower and 180,000 square feet of Grade A corporate offices and restaurants on the adjacent seven-storey tower, all surrounded by well-manicured lawns. This development is unrivalled in the region [and] brings a new dimension to our local hospitality sector. A combination of high-end one-bedroom executive suites and Grade A offices offering business executives unparalleled comfort in both living spaces and first world equipped offices. This model is new to this part of the world lends well with the new reality of our evolving business environments,” Badal boasted.
Live and work
He noted that guests would now have the ability to live and work in the same facility while enjoying the offerings of its
various restaurants. He told the gathering that the addition of the new facilities takes the Pegasus Hotel’s room count to just about 230 and ranges from standard rooms to high-end business suites.
Badal said that it now means that the Pegasus’ offering is now diversified and will meet the demands of expatriate business folks who desire an increased level of comfort. He added that they are convinced that the current strategy will aid in the achievement of Pegasus’ long-term objective of expanding the tradition of fun entertainment and lifelong memories.
“All suites are elegantly furnished with stunning views of the Atlantic Ocean, the Demerara River and the city skyline. Our office spaces are the only Grade A office complex in Guyana. We have over 250 car park[ing spots] under both buildings. Renewable power is provided by 20,000 square feet of solar rooftop, up-to-date building management systems, CCTV surveillance, high level of greenery on the property all at the best zip code in Guyana. I am confident that Guyanese would be immensely proud of this development to know that it is owned, built and managed by Guyanese,” Badal added.
He noted that the hospitality sector was hard-hit by the COVID pandemic and now that it is bouncing back, it is faced with inflation and challenges of the Ukraine war.
“I must admit that this project has been the most difficult of any I’ve ever conceived or undertaken. I’ve built a state-of-the-art parboiled rice mill with our brand Angel Rice in supermarkets all across the region. I’ve built the largest feed mill and poultry operation in Guyana and I’ve completed a (Us) 12 million refurbishment of the Pegasus Hotel. This project, however, was on a different level, from the complexity of the engineering and systems that run a modern Leadership in Energy and Environmental Design (LEED)- certified building and meeting American and European building codes, to the lack of local skills and capacity in critical areas required at this level.
“The problems of procurement in an environment of a supply are disrupted by the COVID pandemic. In fact, we lost close to eight months when our borders were closed, yet we managed to complete this project of over 300,000 square feet of building spaces in three years,” he related.
Meanwhile, China Harbour Engineering Company’s Project Manager Gordon Chen spoke about the project as well. While he expressed gratitude to be able to partner with Badal for the execution of what is dubbed as the single largest investment by a single Guyanese in Guyana’s history, Chen also pointed to the fact that Guyana lacks the skilled labour to execute the job. He noted that while they tried to hire all Guyanese to execute the project, there was a severe shortage of skilled labour with the requisite knowledge to implement the plan. On that note, he said that they were forced to look outside of Guyana to meet that demand.
‘No barriers’
President Irfaan Ali, who delivered the feature address at the opening, declared that there are absolutely no barriers to development in Guyana. He said that the government is going to work to ensure that it changes the landscape of Guyana and improves the lives of the citizenry.
Speaking directly about the US$100 million investment by Badal, Ali said that it is important that the government create a landscape where such investments are viable.
“The government has a responsibility to build an enabling environment to support these investments, to ensure the viability of these investments is secure, very important responsibility,” Ali said.
He noted that there are a number of opportunities for investment in Guyana but underscored the importance of making the investments sustainable. He noted that the high airfare is not conducive to the promotion of business in Guyana and called on the private sector to come up with the strategies and input of the government.
“There are a number of opportunities now, number of wet leases available. Just like this idea and this vision that one time people thought… `oh this was outside of the scale of what Mr Badal could do’. Why we don’t put our heads together, private sector, and come up with a solution. A homegrown solution to this issue. One that brings viability and sustainability and one [that says] clearly [and] specifically, where the government can be of support…otherwise we will not be able to build the sector we want to,” Ali said.
The President also spoke of the opportunities in various sectors that all circle back to the hospitality industry and the benefits it would bring. He noted that once all of the other industries like manufacturing and processing are built then the hospitality sector will flourish with more investors coming for conferences, meetings and networking activities.
Ali also briefly mentioned a Vision 2030 plan that is expected to be launched tomorrow at the international building expo. He said that the plan is a holistic one that encompasses all forms of development. He pointed out that Guyana is progressing even in the face of high energy costs.
“So we’re doing all of this still at a time when you have the highest energy costs in this region and among the highest in the world. Don’t think the energy cost changed because [we produce oil]. It is there and it is unsustainable. We build nothing I talked about if we don’t address that. That is fundamental for us and that is why you’re moving so quickly to address that,” he highlighted.
Ali also pledged his government’s support towards the development of Guyana’s infrastructure.
During a previous interview with Stabroek News, Badal said that the entire complex will offer the most innovative, mixed-use facilities on par with any first world facility of the same nature. It will also be complemented by the food and entertainment facilities currently offered by the Pegasus Hotel. Badal’s vision for the remodelling of the area he owns near the Kingston hotel is a seven-storey, state-of-the-art corporate office complex adjacent to a fifteen-storey tower offering luxury residential accommodation. These buildings are on the eastern part of the property. It has been described as the largest investment here by a Guyanese.
