A new four-storey shopping complex located at the corner of Regent and Wellington streets was officially declared open on Thursday, just in time for the Christmas season.
The multi-million dollar ‘Regent Multiplex’, which is owned by businessman Ganesh Ramlall, who has a clothing stall in the Stabroek Market was scheduled to open its doors to the public yesterday but this has been pushed back to Monday.
The building which began to take shape in July last year has 41 booths and when Stabroek News visited yesterday goods were being taken in for some of them.
A few have already been set up including a flower shop and a clothing store, both located on the ground floor.
Minister of Tourism, Manniram Prashad said at the opening ceremony that this sort of investment speaks highly of the confidence the business community has in the country in spite of the economic challenges.
Addressing those that had gathered for the occasion, Prashad said that when the city mall was declared open several years ago on Regent and Camp streets he told himself that it would be a difficult task for anyone to repeat.
However, he said, Ramlall has proved his assumption wrong and added that another mall was under construction. He said that these projects show the confidence citizens have in the country.
“The president has always encouraged private investment”, he stated.
The Minister later congratulated Ramlall and his family for investing so much in the country at this critical time and stressed that an example has been set for others to follow.
Prime Minister Samuel Hinds, performing the functions of President, encouraged others to follow in the footsteps of Ramlall for the betterment of Guyana while Opposition leader Robert Corbin said that the venture has shown that there is an opportunity to develop one’s talents and abilities.
When construction started, there were reports that it was being done by the owner and publisher of the Kaieteur News, Glen Lall. Lall who was at the ceremony told the gathering that he was a good friend of the Ramlall family but categorically stated that the building did not belong to him or his wife Bhena.
He said that without a doubt, the Regent Multiplex will be one of the hottest spots in that area and Georgetown.
It all started for Ramlall 20 years ago when he began trading foodstuff from Berbice to Leonora.
He then moved his business to Curacao where he sold products to various businesses. The 43-year-old Ramlall also traded out of Panama and the United States.
After three years of this with his wife, the couple opened a stall in the Stabroek Market and then last year – some nine years after they moved to the Market, while driving down Regent Street, Ramlall, a resident of La Jalousie, West Coast Demerara saw the land where his store now sits on for sale.
Ramlall, who has accounting qualifications, told the media that it all started out as a dream. He declined to disclose the cost of his venture but said that he had financial help from the bank, family and friends.
Though he has created a bigger business, the Stabroek Market clothing stall will remain open.
Hinds officially declared the building open by cutting the ribbon. Also present were DDL chairman Yesu Persaud, Attorney General Doodnauth Singh and Deputy Mayor Robert Williams.
