Better, Regulated Real Estate Industry to be Created
August 7, 2023
Construction and Investment Management Group (CIMGRO), led by prominent Guyanese businessmen Ragindra Persaud and Sudama Ramalingum, has unveiled plans for a US$1.4 billion oceanfront real estate development in Mahaica, East Coast Demerara.
Spanning 1,000 acres, the Maraiko Bay Golf & Country Club will feature luxury estate homes, championship golf courses, and world-class amenities, positioning Guyana as a premier destination for high-end real estate and tourism.
A Premier Luxury Community
Designed as an exclusive upscale community, Maraiko Bay will include:
- Luxury homes set along tree-lined streets
- A signature 18-hole golf course designed by renowned architect David Hemstock
- Two miles of pristine Atlantic Ocean beachfront
- On-site heliport for easy access to Georgetown
- Underground utilities, solar power, and top-tier security
The development will also offer condominiums, executive homes, a marina, commercial centers, and leisure facilities, with Phase I expected to be completed within 14 months.
Economic Boost & Job Creation
As Guyana experiences rapid economic growth fueled by its oil and gas sector, Maraiko Bay is set to become a key driver of employment and investment. The project will generate thousands of jobs in construction, tourism, and hospitality while attracting expats and returning Guyanese seeking high-quality housing.
President Dr. Irfaan Ali and Prime Minister Mark Phillips have endorsed the project, highlighting its role in strengthening Guyana’s economy and infrastructure.
World-Class Partnerships
CIMGRO has assembled an international team of experts, including:
- Michael Dodds (IEA Group) – Project management
- Dr. Ollie Hemstock (Hemstock Design) – Strategic design
- Earth and Marine Environmental Consultants (EAME) – Coastal protection
- Praetorian Executive Protection – Security services
Additionally, former Ryder Cup captain Mark James will establish a National Golf Academy at the site, further elevating its prestige.
A Vision for Guyana’s Future
“This project will put Guyana on the map as a top investment and tourism destination,” said CIMGRO Chairman Ragindra Persaud. “We are creating a masterpiece that showcases our country’s natural beauty while delivering jobs and economic opportunities.”
With demand for luxury housing surging, Maraiko Bay represents a transformative milestone in Guyana’s development, offering Miami-style luxury at a fraction of the cost.
