Latest update April 25th, 2026 12:35 AM
Latest News
- GMIN tightening grip on Guyana’s gold through 10% in another Canadian firm
- Wales gas project contractor accused of revolving corruption and financial deception
- We need justice for Adriana Younge!
- Oil rises above $106 per barrel as U.S., Iran deadlocked in Strait of Hormuz
- APNU flays Govt. over delayed GTE project as bills grow and benefits remain distant
That Duke Lodge sale
Dear Editor,
I refer to an article appearing in the Kaieteur News of December 25, 2008, captioned, “Gouveia buys Duke Lodge after Govt. spends $$M on rehabilitation”.
I am somewhat confused over the deal and seek an explanation, as to why the building was only sold for $140 million after the Government had spent $80 million (President Jagdeo says $30 million) on rehabilitating the premises.
To my mind the site is worth much more because of its location, and when taken into consideration that millions of dollars were used for rehabilitation, I am surprised at the price it was sold for. I am of the opinion the building, prior to rehabilitation was worth the same amount ($140 million), so why spend that huge amount and sell for $140 million.
Something smells here! I am not the brightest of persons, so I ask the authorities to explain this deal in a much clearer fashion.
Michael Anthony
Share this:
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.