The parent company of Courts Guyana – Unicomer, yesterday announced a $25 billion (around US$120m) commercial investment for the East Bank of Demerara which will see the construction of a mega shopping complex and hotel along with a logistics yard to support small companies.
The expansion of the company’s presence here is being spearheaded by Red-start Investments Guyana Inc, the real estate development and property management division of the Unicomer Group.
Courts significantly developed the hire purchase market when it arrived here in 1993.
Unicomer’s objective is to construct the mega shopping complex at River View in the vicinity of Farm, and the logistics yard at Houston along the new Mandela-Eccles bypass highway.
“At this time we think we should be taking our game to the next level both in terms of customer experience and staff engagement and tapping into the business opportunities that are emerging in Guyana,” Vincent Gordon, Sub Regional Managing Director, Unicomer Guyana and the Dutch Caribbean yesterday said.
He explained that the investment coincides with the development plan of the country and investing in such major infrastructure will position it as not just an oil and gas country, but a destination of choice for tourists and visitors.
“It will make a big difference in terms of the service we offer, in terms of the kind of experience the customer deserves and importantly for people who are coming into the country, what they expect and deserve.”
The mega shopping complex which will be constructed at a cost of $10 billion will house a hotel, eateries, gym, international-branded shopping centres, international food chains, and all Unicomer associated brands such as Courts Mega Store, RadioShack, Courts Optical, and Ashley’s Furniture Home Store. The complex will also house up to thirty retail spaces with some 400 parking spaces.
Discussions are also ongoing with top international hotel brands to be included in the complex, a statement announcing the investment said.
Gordon in the release had said that the commercial project will be built in three phases: Phase I, to include the erection of the Courts Mega Store and Ashley Signature Stores, Phase II, the build-out of the Commercial Park, and Phase III, which will cover the hotel and final parking structure.
“In November of this year, the Unicomer Group will celebrate… 30 years of Courts doing business in Guyana. This multi-billion-dollar investment demonstrates the company’s continued commitment to the economic development and growth of Guyana. We are providing a world-class facility and a stellar shopping experience for residents and visitors alike,” the statement quoted Gordon as saying.
The investment once completed by spring of 2025 will provide close to 200 permanent jobs. “We expect to break ground in May [and] we have a team visiting in the next two weeks to finalise and begin regulatory approval discussion with various ministries.”
During an interview with Stabroek News at the International Energy Conference, Gordon explained that his company believes their chain-branded hotel will support Guyana’s request for rooms.
He noted that the need for hotel rooms within the next three to five years is expected to increase and their investment will help to meet the accommodation needs.
“We believe Guyana will need far more rooms and the size of the hotels that are coming are very small… Guyana is not just thinking [accommodation for the oil and gas sector] but they are thinking tourism. It is going to need a massive investment in room infrastructure to allow Guyana to have the potential that it really has as a country. So even though we have the rooms that are coming, I don’t think we are anyway close to the requirements you will need in the next three to five years,” Gordon stressed.
He said that they are currently in negotiations with international chains to make a determination on the franchise to be selected.
Logistics Park
The sub-regional director said that they have outgrown their 60,000 square foot warehouse and distribution facility at Eccles, East Bank Demerara.
Against that backdrop, he disclosed that they are looking to construct a 250,000 square foot facility that will support Courts’ expansion. The facility which is slated to be built at Houston will be constructed on 50 to 60 acres of land and will be equipped to handle not just products for Courts but other businesses as well. It will be equipped with transportation, heavy lifting equipment, and container yard and storage facilities, among other amenities.
“It is very timely for Guyana and allows business to scale up and provide them with immediate opportunities without doing the investment [themselves] and offers the kind of security and efficacy of transportation that is desperately needed at this time,” Gordon stated.
The logistics yard will be constructed at a cost of $15 billion and will streamline the retail giant’s supply chain management process.
Additionally, the Director disclosed that Courts in their expansion of services has also launched the Courts Business Solution.
“It is an expansion of what our customers are asking for. Courts Business Solutions is for the professional, industrial and commercial markets,” he stated.
He explained that with Courts already providing a majority of products required by new and existing businesses, they have moved to create a space dedicated to business needs. He noted that under the expansion they will be able to supply products such as IPTV, which is used in the hotel industry, outdoor furnishings and bed furnishings for hotels, office equipment, air conditioning units, and many more amenities required by businesses.
The Unicomer Group will be showcasing these Redstart Investments Guyana Inc projects and other
new initiatives in its booth at the International Energy Conference and Exposition from today though to Friday, February 17 from 8am to 5pm. The exhibit will be on display at the Georgetown Marriott Hotel. Interested persons are asked to visit booth 193 for more information.
The statement also informed that the Unicomer Group operates in 26 countries from its headquarters in El Salvador and has over 13,700 staff members. The company says it offers its customers the widest and most modern line of products and financial services across the countries of operations. The retail brands of the Unicomer Group include Courts, Courts Optical, Ashley Furniture Home Store, RadioShack, Lucky Dollar, and Servitech.
