US$1.4B Mahaica oceanfront golf club development unveiled

Aug 29, 2020 News

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Construction and Investment Management Group (CIMGRO) – headed by two of the nation’s leading businessmen, Ragindra Persaud, of Nand Persaud and Company, and Sudama Ramalingum- New Trend Auto – yesterday launched a major golf club project for the Mahaica area.

The first phase of the initiative includes 1,000-plus acres and would cost US$1.4B.
CIMGRO said that the oceanfront megaproject, called Maraiko Bay Golf & Country Club, is the first of two Championship PGA-standard golf courses that would start construction.
“The luxurious estate homes,” the developer said in a release, “of Maraiko Bay Golf & Country Club will be set amidst the backdrop of a spectacular David Hemstock Signature golf course and is designed to be an up-scale community of tree lined streets, fine homes and modern amenities, just a short drive from the heart of the historic capital city of Georgetown via the newly renovated highway or using the conveniently located on-site heliport.”
The area, according to the developer, is located along two miles of “fabulous” beach on the Atlantic Ocean and bordered by the Mahaica River. The course will be designed by the world renowned David Hemstock, a member of the European Institute of Golf Course Architects.
It “will offer magnificent vistas of waterways, canals, and of course, challenging Atlantic Ocean finishing holes. The addition of ex-Ryder Cup Captain Mark James scheduled to establish his National Golf Academy there will only enhance the quality of the facility.”
According to the developer, the oil discoveries and now production, has led to an influx of major industry players such as Schlumberger, Haliburton, Repsol, Saipem and Baker Hughes.
According to CIMGRO, the newly installed President Dr. Irfaan Ali and Prime Minister Brigadier Mark Phillips have both “wished the developers

every success”. The project, CIMGRO said, also has the blessings of the Region Five administration.

“And with GDP growth pegged by the IDB at 54% (reduced due to the Covid outbreak), this is the perfect time for the launch of the country’s first mega real estate project since Guyana is set to explode with demand for secure housing, recreation, leisure, medical and education facilities, all of which are located on-site at Maraiko Bay.”
According to CIMGRO’s Chairman, Ragindra Persaud, “this is the realization of a dream that will put Guyana on the map as a top investment, tourist and second home destination. I am proud of our entire team that has been working for more than four years to create a masterpiece that will showcase our country’s natural beauty. This allows for creation of thousands of construction, tourism and sports related jobs that we desperately need as the country grows. We have put together a team that we feel has the ability to deliver a project of this magnitude.”
Persaud stated that an agreement had already been signed with the Petroleum Club, headed by John Moore, Chairman of Agraria Inc. for a 75-unit luxury housing complex including a clubhouse, restaurant and leisure facilities.
“In addition, Phase I will encompass 150 condos, 200 luxury homes and 50 executive homes, commercial center and other amenities all set for completion within 14 months.”
It was disclosed that the project management team comprises knowledgeable persons including Michael Dodds, CEO of the IEA Group, which has been at the forefront of development of large-scale projects in the Caribbean, Mexico, Costa Rica, Kuwait, Dubai, US and UK.
It will also include Dr. Ollie Hemstock, Strategic Design Consultant who has years of architectural experience with HCD Architects, whose clients include retail giants such as Westfield, IKEA, Murcia Sports Park, Brentwood Hospital and David Lloyd Sports, etc.
“They will head CIMGRO’s Executive Design and Construction Team who are in charge of the implementation of the project…”
According to Rudy Ramalingum, COO of CIMGRO: “The project is one with many firsts in the developing country- first 18-hole golf course, first marina, first all-inclusive secure community and first mega real estate development project that is almost 30% of the size of the capital city Georgetown.”
The developer said that the championship golf course will be a part of a US$1.4B development that will eventually provide top notch medical facilities, internationally rated schools, fine hotels, world-class shopping and fine dining: “Maraiko Bay definitely will be the gold standard of living for the thousands of expats and re-migrants who are set to call Guyana home for the next 50+ years.”
CIMGRO has also engaged Dallas Thomas of Praetorian Executive Protection Services Inc., a USA-Guyana based security firm to handle its security implementation. The company said it plans to immediately engage several local and regional contractors to ensure that they can meet the tight delivery schedule for infrastructure and construction due to the demand for quality housing-starting under US$150,000) in a country that is struggling to keep up with the influx of expats and re-migrants.

 

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