Latest update April 9th, 2025 12:59 AM
Sixth developer returns prime Ogle lands received from Coalition Gov’t
Kaieteur News – Caribbean Marketing Enterprises Incorporated (CMEI) is the latest company to return acres of prime lands at Ogle, which it had received from the National Industrial and Commercial Investments Limited (NICIL), under the former A Partnership for National Unity + Alliance For Change (APNU+AFC) regime.
CMEI, which comprises a group of foreign and Guyanese-American investors, had plans of constructing at least two “international flagship” hotels on the 21 acres of land it had received. It even had conducted a sod-turning ceremony on February 19, which featured then Finance Minister, Winston Jordan.
In a statement issued on Thursday, company publicist Dr. Asquith Rose reminded that the company remarked had first tried to acquire the Marriott Hotel in 2006, which the former Government initially tried to sell. However, it was unsuccessful, the developer said. It was then that it engaged NICIL on buying real estate in the Ogle area in close proximity to one of its major clients.
“Admittedly,” a statement from the developer read, “this was a very lengthy, tedious and transparent process with its fair share of frustrations coupled with ongoing costs and redundant paperwork. Notwithstanding these issues, CMEI was finally able to complete the acquisition of 21 acres of real estate in the Ogle area.”
Notably, the conclusion of this process was done during the post-elections delay in Guyana and the COVID-19 pandemic worldwide. These combined conditions have placed the company in a very unfamiliar and uncomfortable position, their publicist said.
Rose went on to say that these circumstances have seen the company choose to give up its 21 acres of land to NICIL, with the return of capital.
As this new process unfolds, CMEI hopes to engage in discussions with the Government regarding their development plans, services, and investments and the way forward.
Notably, the other companies that cashed in on the controversial deal include Premier Sales Incorporated; Trinuyana Investments Incorporated (Director, John Aboud); Earl’s Court Incorporated; and state firm, Guyana Oil Company (Guyoil).
Thus far, none of these companies has signaled their intention to return the acres of land vested to them.
Caption: (From left) Former Minister of Finance, Winston Jordan; the recently sacked Head of NICIL, Colvin Heath-London; and representatives of Caribbean Marketing Enterprises Incorporated. (CMEI)
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