As Movietowne Guyana celebrates its fourth anniversary this month with a series of giving back activities, its Chairman and Founder Derek Chin is hoping that the legal impediment on the land nearby would be cleared up and he could put in an offer for a staggering US$500 million “dream” development or that government greenlights a Guyana DinoWorld project.
Chin is Guyanese by birth and had lived during his childhood on Church Street in Georgetown where he was always fascinated by the nearby cinemas.
“I had this Riverwalk of Georgetown [concept] planned for next door, which would make the country an even greater destination. It is like the riverwalk in San Antonio, Texas; this man-made river that goes to the hotel. It has this seductive lighting and great ambience…. that was my dream and still is,” Chin told the Sunday Stabroek in an interview on Friday.
“Can you imagine if the Riverwalk of Georgetown was there? …If I had the additional land I would bring even more fancy things…,” he added.
While he had made a deposit on the land, which at one time was earmarked to build a specialty hospital, he said that transaction became tied up in a legal battle.
“They have said ‘boy that is [presently] caught up in such a legal situation, don’t go waste my time kind of thing’, but challenges are always there. If they want an investor or someone like me to come with new ideas, I would love to look at it,” Chin said.
He said that about US$500 million would have to be plugged into such a development, and he would look for Guyanese investors to partner with, because people of this country must get back returns from their homeland. “It would be the river hotel and entertainment destination. I would build the walkover from [Movietowne to the facility] to connect. You will have a museum there that shows off Guyana’s vast history and artifacts and other history of its people. You would have entertainment areas… the lot,” he explained.
Chin still has the blueprint for the facility and is optimistic that if the legal issues are resolved, investors would want to take up the offer.
In the meantime, however, he said he has a plan to pitch to the Irfaan Ali government, replicating his DinoWorld Entertainment Park here in Guyana at a location government believes would be profitable.
DinoWorld is a theme park in Port of Spain, Trinidad where patrons experience life sized mechanical dinosaurs, as they explore the forested amusement area. “I would love permission to do it and create an iconic park … that way, people would have another destination to go to. If government gives me land for the investment, I will make it happen,” he said.
Chin prides himself on investments that are different, and many most times are scoffed at for being too outlandish or modern or risky.
He reflected on his investment here, as he advised budding entrepreneurs to not be afraid to take risks and to remember that scared money doesn’t make money.
Chin explained that Vice President Bharrat Jagdeo, whose input made the investment a reality, isn’t given enough credit; it was he who first planted the idea and urged Chin to come to Guyana.
“I remember when he came to Trinidad and was walking through Movietowne with me, he said, ‘Man Derek, what do I have to do to make you come to Guyana and invest?’ In those days no one looked to Guyana as an investment opportunity… You didn’t have the oil finds. So I said, if I could get some reasonable lands, I think I can get my board to consider it. At that time I had now started in Trinidad and Tobago and we needed to prove ourselves,” he related.
He said he was continuously pursued and sometime in 2011 a deal was made and he pledged the then US$35 million investment. That figure increased to about US$50 million by the time the project was completed.
When the project was revealed in 2011, Chin’s vision had been that on completion, the first MovieTowne franchise outside of Trinidad and Tobago would have comprised eight multiplex cinemas coupled with 30 local, regional and international stores, a bank, a dining area and a parking space for over 700 vehicles.
Today, it has some 70 stores and spaces and he is looking to set it back on the path of making it Guyana’s premiere destination mall.
“When I told people we were coming to Guyana,” he said, “people said, ‘what you going to Guyana for? ‘You can’t make that money back there’.” But Chin was confident that even without oil this country would have developed and he went ahead.
“I think I am blessed and the Lord probably saw and said, ‘Guyana find oil and help Mr Chin’… and now the land value has skyrocketed here and the investment is sound,” he stated.
Restructure
Since last year, following a number of complaints, he has had to restructure the local management team and has taken over, because the standards were not in line with his.
“If you come to the TT enterprises, you would see 95% of those malls fully tendered but here we are down to 60%. A position where you have an open for business type of approach that I wanted, I wasn’t seeing that here. When I came here about a year ago, I had to emphasise repeatedly that this is a family oriented business, because I love families. We brought in things to attract the children; the rides and the carousel. It has been very very popular. I continue now to have more rides to make it more attractive to the children and families, but I wasn’t seeing what I wanted. I think once that [his six months plan] happens, it also becomes more viable to tenants and they in turn would have more sales,” he said
“I have been dealing with the tenants and telling them there is a new dispensation now and we are going to go out there and listen to what their concerns are to make this the #1 mall in Georgetown and in Guyana. We had some problems and I am addressing them, because I am very hands on. I want to assure the people of Guyana: give me six months and the mall will take a whole new look and dimension.”
Complaints from tenants included that they felt that communication with management was poor and that their concerns were not being swiftly addressed. “I was getting emails quietly behind the scenes. The … facilities were not being maintained. Say the bathroom for example. I am a stickler for organisation and cleanliness. In the corporate boardrooms in TT, people ask how Derek Chin maintains his washrooms so nice. It is because I have systems in place. There were no systems here. I am a person of high standards. I came in and saw they were not lies. In two weeks they were being fixed, paint jobs and so on,” he revealed.
The “Hardrock Cafe] issue was among some of the things; they had a problem with a patio they were not paying for and I told them they had to. That issue has been resolved.”
There were other legal issues but those too were amicably worked out. “I don’t like to go to lawyers and courts. I told them I am here for them and they’re here for me and instead of fighting in court let us sit down and see how we can work it out. I think with Royal Castle, GPL, Hardrock, I think we have worked it out. I want to thank them. Some of the lawyers have understood that at the end of the day we will have a harmonious relationship,” he said.
Together, he said, he and the tenants will prepare to host memorable anniversary celebrations to commemorate four years since the complex opened. Chin was quick to note that cumulatively, business has been consistent for only about eight months of the four years. This was due to the first year seeing business people holding back on renting spaces because of the political situation triggered by the no-confidence motion and the then political impasse which followed the March 2020 elections. Business came to a halt the same year due to the COVID-19 pandemic and it was only last year April that Movietowne operated at high capacity.
Nevertheless, the anniversary celebrations will see a number of activities, such as half-priced tickets, live concerts, additional rides, face painting and events geared for children. Chin said he wanted Guyanese to know that Movietowne was there for them, always.
“Guyanese must understand, I am here and have always been here for them. Movietowne and investments in this country by Derek Chin is theirs. I can’t pick it up and take it anywhere. I am here to support them and I ask their support,” Chin said.
“I want them to also know that they too can be like me. We are a smart people. I born here and I love my country. We have a lot of talent and they have such an opportunity now to showcase that,” he added.
Part of the plan was to unveil a Ferris wheel, which Chin calls “my eye” in time for the anniversary, but it will be assembled at the location by the end of April.
