The Guyana Office for Investment (G-Invest) yesterday disclosed that the Qatari company planning a luxury development on Carifesta Avenue will purchase the land for $2b.
In a statement yesterday, G-Invest said that the purchase price was part of the Memorandum of Understanding that was inked. Yesterday’s press release was the first disclosure of the intended purchase of the land.
The land is at the centre of a hotly contested debate with the city claiming it and the Guyana Lands and Survey Commission saying that the state has jurisdiction over it.
G-Invest said that the project will be spearheaded through Assets Group, a subsidiary of Power International Holding (PIH), and is slated to be completed by March 01, 2026.
