$1.4B Maraiko Bay Golf & Country Club to start construction in Guyana
Construction and Investment Management Group (CIMGRO), announced on August 28, 2020 that Phase I of the magnificent Maraiko Bay 1,000+ acre US$1.4B oceanfront megaproject, “Maraiko Bay Golf & Country Club”, would start construction including the first of two Championship PGA-standard golf courses.
The luxurious estate homes 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.
Located along two miles of fabulous beach on the Atlantic Ocean and bordered by the Mahaica River, the stunning course under the masterful hands of world renowned golf course designer David Hemstock (www.hemstockassociates.com) will offer magnificent vistas of waterways, canals, plus 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.
In this newly oil-rich nation, where recent significant discoveries by Exxon Mobil Guyana have been made, the ocean's warm waters and wide sandy beach are key features in the country's first mega real estate project. The new Mega City will offer green economy strategies, solar power, underground utilities, top security and amenities, and is affordable for a broad range of buyers commencing at under US$150,000.
Indications are that Guyana will become the most vibrant economy in the region. 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.”
An MOU had already been signed 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.
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 championship golf course will be 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.”