Analysis and News

The East Bank Corridor: An out-of-town Investment Hotspot

BY GEOCAP's Contributor: Vishani Ragobeer

Georgetown may be the capital city and main port of Guyana but the East Bank corridor is becoming increasingly attractive for massive investments, linked to the wider developmental thrust of Guyana. 


Already, the East Bank boasts of existing housing schemes, including those that have been privately developed; the massive Amazonia Mall and Massy shopping complex; the Ramada Princess Hotel; Guyana’s National Stadium and major shore base developments that provide supply services to the oil and gas industry.


In just a few years, the landscape of the East Bank corridor has become increasingly commercial — paralleled with investments in roads and housing schemes for residents. 


A 32.2 million USD, 125-room Hyatt Place is set to become one of the newest additions on the East bank when it opens its doors come 2024. This hotel is an investment of SIR Investments Guyana Inc., a subsidiary of Universal Investments Limited — a company registered in 1976 in the Republic of Trinidad and Tobago.


Importantly, amenities at this hotel will include different guest rooms options, disability outfitted rooms, restaurant and bar, meeting rooms, social lounge, fitness centre, pools, internet and communication links, room service and guest laundry, spacious parking spaces.


This hotel will be built on a five-acre parcel of land situated at Parcel 2441 Block III, East Bank Demerara; three acres will be allocated to the hotel. And interestingly, it will be surrounded by the Texila American University, a Business Process Outsourcing (BPO) company called Qualfon and the Amazonia Mall/ Massy Supermarket complex. 


According to a press release from the company, the Hyatt Place hotel is expected to employ about 250 to 300 persons during the construction phase; 95 per cent of which are expected to be Guyanese nationals. 


In the post-construction phase, it is expected that nearly 100 permanent jobs with several part-time roles would be created. Moreover, some 90 per cent of those jobs are expected to be Guyanese nationals.


Still, there is more to come. According to a document published on the Environmental Protection Agency (EPA)’s website, Caribbean Green Building Inc.- a Guyanese company linked to an American company- is seeking to develop a new hotel in Houston. 


The document also states that the ‘Houston Hotel Project’ will feature 150 hotel rooms and will feature elevated amenities including the popular local restaurant, Bistro Bar, an outdoor pool and tennis courts and collaborative lobby space. 


And, according to the project scope, which was signed by the company’s Director Andres Botero Toro, there will be two developmental phases. 


Phase one of the development will include the construction of 150 rooms, a gym, pool, international bar and conference rooms. Then, Phase two of the project is expected to include the construction of a convention centre, restaurants and minor shop areas. The convention centre will be operated by the local partner in the project.


Further along the East Bank corridor, at Timehri near the Cheddi Jagan International Airport (CJIA), a 20 million USD Marriott Courtyard hotel will be developed by 2023. 


This 140-room facility, when completed, will be the second Marriott hotel brand in Guyana — adding to the Marriott Hotel found in Kingston, Georgetown. It is expected to be a six-storey hotel that will be just a one-minute away from the entrance of the CJIA. As such, it is expected to accommodate airline crews and staff, business personnel, diplomats, and other travellers.


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