Minister with responsibility for Finance, Dr Ashni Singh on Sunday told reporters in Berbice that two international hotels are expected to be developed at Palmyra, as massive development continues at the location.
In March, President Irfaan Ali launched the construction of a $3.7 billion stadium and multipurpose facility at Palmyra, Region Six, with funds from ExxonMobil’s Greater Guyana Initiative (GGI), stating that there will be no excuses for not delivering the project on time. It is scheduled to be completed by 2025.
In October 2022, President Ali detailed the development slated for Palmyra, on the East Berbice including the building of the new International Cricket Council-standard stadium. At that time, he had said that they had already approved private sector investment for a new state-of-the-art mall, a new hotel, a recreational centre, a hospital, a centre for persons with disabilities, and a call centre.
The centre for persons with disabilities and call centre are both expected to be commissioned this year as it is almost completed with fine touches being done now.
Singh on Sunday said to boost the stadium – a multipurpose facility – and its activities, there will be commercial investments like hotels, restaurants, and other business facilities at the location. “Palmyra will also see a number of international hotels; we already have interest for two international hotels to be built in Palmyra which will be world-class facilities aimed to accommodate visitors both international and domestic…”, he said.
According to Singh, Palmyra is slated to become a major urban centre for commercial and economic activities.
In April this year, the Sheriff Group of Companies said it would be embarking on building a luxury hotel and casino at Palmyra, Berbice, the third multi-million-dollar investment by the company this year at the location.
Ameir Ahmad, one of the directors of the company told Stabroek News that the investment was some US$100 million. The luxury hotel and casino will have all the modern amenities of first-world countries – the first of its kind in the ancient county – with the expectation of aiding the tourism sector and also creating hundreds of jobs for locals.
In January this year, the company had announced the construction of a specialty hospital at Palmyra, Region Six; an investment which after completion will open up 400 jobs to Berbicians.
Ahmad had said that the specialty hospital will be a three-storey structure with a total of 150 rooms, which is expected to drastically improve the delivery of healthcare in the Berbice area. Accommodation for doctors and certain sections of staff will also be built at the location.
According to him, the infrastructure itself is expected to cost the company around $5 billion, while the equipment is estimated to cost between $10 billion and $15 billion.
Meanwhile in February, the company announced the construction of a three-story building also at Palmyra to house the headquarters for Sheriff Security in the ancient county where they already have some 100 staff on payroll. Ahmad had said then that the $400 million building will also provide a business centre for companies wishing to open operations in the region.
