–$7.3B Four Points Hotel for new Mandela-Eccles Highway

AN increase in economic activities is imminent along the newly opened four-lane Mandela-Eccles Road, following the commencement of work on the US$35Million (approximately $7.3 billion) Four Points by Sheraton–Marriott Hotel at the Houston site just off the new highway.

The massive 172-room facility is being constructed by the Caribbean Green Building Inc., and US-based Owen Steel Company.
In his address at a simple sod-turning ceremony for the new hotel on Tuesday, President, Dr. Irfaan Ali, said this massive investment is aligned with the government’s commitment to unlocking new opportunities and opening new paths for the further development of Guyana.

“The facts are that the development trajectory of our country is forward-looking. It is upward, it is dynamic, it has diversified and it is bearing potential, not only for investors but now for the creation of the jobs that we talked about. These developments are not isolated, they’re strategically aligned to a goal of a government,” President Ali said.

The Head of State related that the massive investment is set to benefit Guyanese not just through the creation of jobs, but also through several spinoff opportunities including an increase in the net asset value of the properties around the new Mandela to Eccles Highway.

Preparatory works began in April for the construction of the massive facility; this was just under a week after the new four-lane Mandela-Eccles Road was opened to the public.
President Ali said that the government will work in systematic way to ensure that these types of investments are supplemented by investments in public infrastructure.

He noted that this type of investment by the government is necessary to ensure that the entire developmental agenda of the country is extended not just to businesses and the private sector, but also to all citizens of the country.

“We’ll have a heavy focus on community development, the internal roads, and communities, ensuring that the credit systems are working. Because what we want to create is a national environment that gives you a national standard.

“We want people to be proud of the environment in which they live and work. We want the environment to be reflective of the growth trajectory of the country. We want the environment to tell the story of the transformation that is taking place,” the Head of State said.

President Ali related that the facility is set to see a reduced timeframe for completion when compared to projects of a similar nature, since it is utilising a prefabricated steel structure which is currently on its way to Guyana from the manufacturers. The estimated deadline for completion of the entire project is 2024.

“One of the good things about this investment is that the prefabricated building is already completed. That is a steel structure for the hotel is already completed. So, you will see a quick movement from the foundation to the steel structure. If I’m right, if the structure is on route to Guyana as we speak. The pile testing is ongoing; 500 piles have to be driven into the ground,” Dr. Ali said.

This massive facility will also add to the government’s efforts to reduce the country’s carbon emissions by at least 70 per cent by 2030.
Caribbean Green Building Inc. and Owen Steel investor, Andres Botero-Toro, said that the building is “Edge certified” and will consume 40 per cent less resources than a similar project built using traditional methods.

The company, in its project scope, had related plans to introduce elevated amenities like the Bistro Bar (a fast, casual restaurant) and collaborative lobby spaces; spacious meeting spaces, and a convention centre, to meet market demands.

There are also plans to have 1,000 square feet of space for cardio, stretching, and strength activities; this would be supplemented by an outdoor pool and tennis court.
According to the project scope, the developer also plans to offer an arrival experience that includes an optional porte cochère – a covered entrance that is large enough for vehicles to pass through– and enhanced lighting.
Toro called Guyana a major magnet of opportunity and gave the seal of approval for other foreign investors to invest here.

“I would like to address all international investors thinking about investing and give them a message of confidence to do business in Guyana. The President’s vision of transformation and his management of the economy provides a tremendous potential to grow in this line of opportunities with awesome people. Let’s work together and grow together to make one Guyana for all the Guyanese and friends who come here and become Guyanese as I have,” the investment expert said.