Real estate sector ‘ripe’ with opportunities
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With the ceremonial ribbon-cutting, REMAX has pledged to raise the bar on real estate services in Guyana
With the ceremonial ribbon-cutting, REMAX has pledged to raise the bar on real estate services in Guyana

— says Minister Singh as REMAX comes to Guyana

HAVING launched its Guyana operations on Tuesday evening, Real Estate Maximums (REMAX) can now boast of being in every country in South America, according to Canada-based Guyanese businessmen Hemant and Shiv Misir, who founded REMAX Guyana.

At an official launch at the Pegasus Hotel in Kingston, Georgetown, Shiv Misir said that in addition to providing world class real estate services, REMAX Guyana also intends to provide training for agents operating in Guyana.

Misir said that even though REMAX is eager to set-up shop in Guyana, it recognises the fact that the local real estate market functions in a relatively ad hoc manner. “One of the key things is that Guyana doesn’t have a real estate board… you want to market your property, you tell everybody that you know,” Misir said, drawing reference to the Guyanese real estate culture.

Senior Minister in the Office of the President with responsibility for Finance, Dr. Ashni Singh

He noted that with REMAX’s Guyana operations, all cases will be handled in keeping with international best practices. This means that once a person wants REMAX to handle the sale of their property, they will be made to sign contractual agreements to ensure that the transaction is handled professionally.

“That’s one area that needs immediate attention; contractual agreements… having a contract will allow you, as a seller, as a client, to get representation and have the confidence that ‘hey, I can leave everything in the hands of this person’…and [that they would] have the best interest of the client,” Misir reasoned.

He said that once REMAX is settled in the City, efforts would be made to ensure that the company is able to recruit and train other franchise holders who can operate REMAX branches across various regions of Guyana.
Speaking at the launch, Senior Minister in the Office of the President with Responsibility of Finance, Dr. Ashni Singh offered his congratulations to REMAX Guyana, saying that the company is entering the Guyana market at a time when the real estate sector is “very, very ripe” with opportunities. “You are entering the market at a time when there is more activity happening in the real estate space than ever before in the history of our country,” Dr. Singh said.

Reflecting on Guyana’s position as a budding investment hub, Minister Singh said that REMAX’s entry comes as no surprise since the country continues to attract the attention of large investors from all parts of the world.

The minister said that with Guyana’s continued growth, REMAX is well positioned to be able to create a niche for itself. “At the premium end of the market; at the corporate end of the market, world-class international companies [are] waiting for office space; looking for residential accommodation for their top-tier executives, there is a huge opportunity there,” Dr. Singh highlighted.

Meanwhile, in extending his congratulations to the company, Minister of Housing and Water, Collin Croal reminded that REMAX also has a responsibility to deliver services of a high standard.

He also encouraged the Guyanese businessmen to play their part in marketing Guyana as not only an investment hub, but as being ready to accommodate Guyanese in the diaspora who want to return home and help to further build Guyana.

Minister of Housing and Water, Collin Croal

Croal also pointed to the importance of international companies coming to Guyana not to “take up a single space”, but to collaborate with locals in building lucrative markets.

The Housing Minister also pointed to the fact that REMAX is coming to Guyana at a time when the construction industry’s boom has increased by some 25 per cent even amid a global pandemic. “…not only government, but private sector,” Croal asserted.

Similar sentiments were also shared by Minister within the Ministry of Housing and Water, Susan Rodrigues, who said that REMAX’s investment in Guyana is a clear demonstration of the company’s confidence in Guyana. She said that once the company is dedicated to its work, making the requisite investments and practicing patience, success will come.

She also congratulated the Guyanese businessmen for choosing to invest in their homeland, and for their commitment to “raising the bar”. “You have a partner in our government,” Rodrigues assured.

Also attending the launch were India’s High Commissioner to Guyana, Dr. KJ Srinivasa; Guyana’s High Commissioner to India, Charandass Persaud; and Foreign Secretary, Robert Persaud.

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