$2.5B expansion project announced for Madewini Villas

A $2.5 billion expansion project has been announced for Madewini Villas on the Soesdyke-Linden Highway, featuring a whopping 300 private residences.
The Madewini Waterfront Villas project is an addition to the current facilities in the Splashmins Fun Park and Resort, a statement from the company indicated.
It will be executed within the confines of 150 acres of land and will create some 300 jobs throughout the different phases of its execution.
Among the features are five artificial lakes, a shopping centre, mall, outdoor space, recreational amenities, bridges and roads. The aim is to create a luxury community destination.

In a statement on Friday, the company said Madewini Waterfront Villas will ensure a harmonious blend of the environment that respects the true ecological properties of the project area.
“The development is a prime indication of the magnitude of investor’s confidence that prevails in the current Guyanese economy and Government’s developmental drive as a whole,” the release added.
As Guyana attracts continuous and deepened interest from different countries around the world, locals are taking advantage of the windfall of opportunities and investments presented through the budding oil and non-oil sectors. Several other major projects were announced with the past few weeks – all in an effort to boost Guyana’s hospitality sector.
These include the Sheraton and Element-branded hotels in Providence, East Bank Demerara (EBD).
It was only a few months ago, the Guyana Office for Investment (GO-Invest), in collaboration with various Ministries and supporting agencies, updated and reinforced the Sector Investment Prospectus to focus on critical investment areas such as agriculture, energy, mining, forestry, information and communications technology, tourism, manufacturing, and services.
The Prospectus highlights and promotes Guyana’s eclectic portfolio of the most auspicious and lucrative investment opportunities to local and foreign investors.
Enclosed in the Prospectus was the attractive fiscal incentive regime that investors can benefit from throughout the various sectors as well as data on the key sectors, sector overviews, the economy, why they should invest and comparative advantages.
The year 2022 is the next phase in President Dr Irfaan Ali’s masterplan for Guyana’s economic transformation into a regional powerhouse. This plan is driven through Budget 2022, which lays the foundation of the President’s vision for Guyana.
Guyana’s economic growth is projected to skyrocket in 2022 as the World Bank has since amended the country’s initial growth projection from 26 per cent in June of 2021 to a jaw-dropping 49.7 per cent despite the current constraints of the COVID-19 pandemic.
Investments are already commencing in healthcare, education and other social services and will improve the living conditions of Guyanese. New hospitals are being built across Guyana’s regions to provide state-of-the-art services to people.
Guyana has been advertised as open for investment, but the outlook is far beyond oil and gas, as it includes expanding to the Low-Carbon Development Strategy, natural beauty, and the value of our forests and human resources which existed long before the discovery of oil. Tremendous opportunities are already being sought in agriculture, tourism, the new Silica City, infrastructure, manufacturing, industrial development, and agro-processing.
To this end, the country is poised to become the most exciting investment destination in the Western Hemisphere.