Mayor of Georgetown, Alfred Mentore yesterday reported no updates on a long-anticipated meeting with Qatari officials regarding the Carifesta Avenue lands designated for a major hotel project.
When contacted by the Sunday Stabroek, the Mayor indicated that no formal discussions have been scheduled with the officials of Power International Holding, the Qatari group spearheading the development.
The Carifesta Avenue lands are set to host the Georgetown Seafront Resort and Convention Centre, a high-profile project with an estimated value of US$300 million. This development is expected to include a 260-room luxury hotel, 150 serviced apartments, and state-of-the-art conference facilities, aimed at positioning Guyana as a prime destination for tourism and international conferences.
The symbolic first block for the project was laid in February this year but since then there has been no further development.
A site visit by the Sunday Stabroek yesterday revealed ongoing construction activities in the area with Minister of Public Works, Juan Edghill, confirming that the work is part of a road-widening initiative. He pointed out that infrastructure upgrades are essential to support the expected increase in traffic flow, however, these construction efforts have raised questions about the coordination between local authorities and the Qatari investors. Mayor Mentore has in the past, expressed concern about the lack of consultation with the Georgetown Mayor and City Council, which he says has been sidelined in discussions about the use and development of the prime real estate.
The Carifesta Avenue lands were reportedly transferred to the Qatari investors as part of a government initiative to attract foreign investment and boost the local economy. However, concerns have been raised about the transparency of the land-transfer process and its valuation. The lands were appraised at approximately $2 billion, sparking debate over whether the transaction represented fair market value.
Additionally, opposition politicians and civil society groups have called for greater accountability, arguing that the deal lacked public consultation and oversight. They have questioned the decision to allocate such valuable real estate for private development without clear benefits to local communities.
However, despite the criticisms, government has defended the project, emphasising its potential to transform Guyana’s tourism landscape. Officials have highlighted the economic benefits, including job creation during construction phase and subsequent operation, increased foreign exchange earnings, and enhanced capacity to host large-scale events.
Earlier this year, a groundbreaking ceremony marked the official start of construction, with representatives from Power International Holding in attendance. The company has touted the project as a strategic investment that aligns with Guyana’s vision for sustainable economic growth.
For now, the timeline for a meeting remains uncertain, and questions about transparency and collaboration still persist, as construction and infrastructure upgrades proceed, signalling the government’s commitment to seeing the project through.