Latest update June 3rd, 2026 12:40 AM
Govt. intention to purchase NBS building is senseless
Dear Editor,
I write to question, publicly, the sensibility of the intention of the Government to purchase the building that formerly housed the New Building Society Limited and to further question whether His Excellency (with His recognised honourable intentions) is being hoodwinked by a snake charmer or an expensive snake oil salesman who, incidentally, has taken an oath before God to be Minster and Attorney General of the Republic of Guyana.
The public may or may not be aware that the purchase price of this building is in excess of five hundred million Guyana dollars.
That’s right. What is even more bewildering and egregious is that this purchase price is a purchase price that even the market was unwilling to pay at the date when the bidding by tender was closed.
How can it make any prudent sense or any sense whatsoever (other than NONSENSE) for a Government to pay in excess of what the market is willing to pay in a buoyant and probably inflated property market?
In addition, it is the intention of the Government to relocate the Deeds Registry and the Lands Registry to this building. There was never any proper assessment prepared on whether the building is suitable for this or any such purpose.
Information has revealed that this building is too small to house comfortably either registry.
Lastly, there was no estimate provided for the remedial and other works that would be required to relocate and accommodate the Deeds Registry and/or the Land Registry.
That estimate could run into hundreds of millions of dollars like it did for GRA relocation to Camp Street.
Your Excellency please be warned that a snake that sheds his skin is still a snake.
V. Singh
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