Govt. hands prime city lands to Qatari investors to build hotel

Feb 19, 2024 News

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– Pres. Ali says investment fits into plan for sustainable development

Kaieteur News – The Government of Guyana has handed out prime green spaces of lands-that were solely used for educational and recreational purposes along Carifesta Avenue, to private Qatari investors so that they can build a massive five-star hotel.

President Mohamed Irfaan Ali and members of the Qatari company, ASSETS Group on Sunday laid the foundation stone for the commercial project, the “Georgetown Sea-Front Resort and Convention Center” which is expected to be completed in three years. The hotel facility will take up some 75,000 square meters of space and will be built on the Guyana National Service (GNS) and National Insurance Scheme (NIS) grounds along Carifesta Avenue. Those grounds are among the few, city residents utilise for sporting activities.

During his address at a ceremony held at the project site on Sunday President Ali welcomed the multimillion US dollar investment because according to him, it blends in with his government’s sustainable development plan for Guyana. “This investment fits into our overall plan of sustainable development because part of what we want to achieve is whilst we have this massive transformational investment, that the essence of our country remains what we are known for and that is a country that is naturally beautiful green and returning the garden city to the status of the garden city…” He said, that is why his government was investing in planting more trees in the capital city.

President Ali also explained that one of the ways he wants to diversify Guyana’s economy is through hospitality and tourism especially eco-tourism and one of the ways he wants to achieve this is through such investments that provide world class hospitality services and by investing in heavily infrastructural projects to beautify and expand the city. “We have to create events, we have to create an environment to create traffic to come into our country and that is what will support demand”, Ali added.

The massive hotel will include 261 rooms and suites, a separate branded hotel apartment project featuring 156 premium units, 10 duplex villas, a members club and a convention center. Ali said that design of the hotel will mirror the history of Georgetown. “The architectural design, the natural attributes of Guyana were taken into the design of the building”, Ali said.

Meanwhile there have been some questions raised by the Georgetown Mayor and City Council (M&CC) over the handing out of the green spaces by the government without notifying or consulting them. The Green spaces is a part of the 450 Acres plot Land on Plantation Thomas, City Mayor, Alfred Mentore told the Stabroek News. The lands were owned by Quinten Hogg and his family and are considered to be a rich legacy of Guyana’s Natural and Cultural Heritage. According to the National Trust of Guyana, in 1863, the Hoggs donated the area to the Georgetown Mayor & Town Council on the strict condition that it was to be used solely for educational and recreational purposes. Therefore, no commercial establishments were to be within Thomas Lands.

More rooms added

Meanwhile, Ali added that more than 1,300 world-class rooms will be added to the local market by the end of 2024, as a series of hotels are currently under construction and slated to be completed this year. He highlighted that these new ventures are a reflection of the government’s commitment to diversifying the capital markets for investment.  Approximately 10 new hotels will add to the national economy over the next few years, which include internationally acclaimed brands such as Marriott, Hyatt, Hilton, Radisson, and Best Western Hotels.

“The Aiden Best Western in Georgetown is expected to open in June with 150 rooms, the Four Points Sheraton in Providence, which will have 172 new rooms, the AC Marriott at Ogle is expected to open its doors by December, adding 152 new rooms, and the Hyatt Place at Providence on the East Bank Demerara, which would add 136 new rooms,” he told those gathered.

In addition to these, King’s Hotel and Residence is constructing its second branded hotel on the corner of Quamina and Waterloo Streets, which will be equipped with modern amenities and is expected to feature approximately 60 rooms. Works are also ongoing on the US$20 million Courtyard by Marriott Hotel at Timehri, East Bank Demerara, which is expected to be opened in the final quarter of this year.  The head of state pointed out that with these new facilities under construction, the total private sector investment amounts to over US$250 million.

According to the president, this speaks to the confidence that international partners have in the country’s economy.  “These investors for these hotels span from North America to local and regional investors. So, you can see the diversity in the spread of investment that is coming into the country. We also have proposals that will see new announcements being made before the end of the year.”

This aggressive drive to bring new accommodations to the country forms part of the government’s thrust to expand the tourism industry, and provide for the influx of visitors. Against this backdrop, the government is confident that the goal of achieving 2000 hotel rooms by 2025 is well within reach.

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• Georgetown, Green spaces, Hotel, President Irfaan Ali, Qatari investor

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