Fifth developer returns prime Ogle lands received from Coalition Gov’t

Oct 13, 2020 News

Kaieteur News – Supergraphics is now the fifth developer to return prime Ogle lands, which were controversially vested to them by the previous A Partnership for National Unity + Alliance For Change (APNU+AFC) Coalition regime.
In a release, the company owned by one Eton Cordis, said that they had entered an Agreement of Sales with the National Industrial and Commercial Investments Limited (NICIL) on June 15 for the purposes of constructing 95 premium housing units/apartments. The company was vested five acres for the project.
However, to allow for a cleaner and transparent process, “We announce that we have agreed to surrender our interest in those lands with NICIL,” the company said. The developer was keen to point out that that it looks forward to working with NICIL and the Government of Guyana towards achieving their development goals.
Only recently, four other developers, American Marine Inc; Navigant Builders under Winsor Estates; Cardiology Services Incorporated; and Corum Group Incorporated have rescinded the lands vested to them under the APNU+AFC government.
These are prime lands that are located near a major planned highway that would link the East Coast and East Bank transportation network. The almost 1,000 acres of prime lands opened by NICIL for commercial development are said to be worth billions of dollars.
Although the lands were vested to the companies, no payment was made to the government, giving a clear indication that the state lands were merely given away.
Public accountability advocates, had argued at the time that the Coalition government, being in caretaker mode, could not be involved in such deals. Not to mention, the country was embroiled in the widely publicized electoral impasse.
The other companies that cashed in on the controversial deal include Bosai Minerals Group (Guyana) Incorporated; Premier Sales Incorporated; Trinuyana Investments Incorporated (Director, John Aboud); Caribbean Marketing Enterprise Incorporated (Director, Mike Elliot); Earl’s Court Incorporated; and state firm, Guyana Oil Company (Guyoil).
Thus far, none of these companies has signaled their intentions to return the acres of land vested to them.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News