–US$100 million Pegasus Suites, Corporate Centre officially opens doors
–President Ali urges private sector to change business models to facilitate similar investments

PRESIDENT, Dr. Irfaan Ali, on Wednesday evening, joined investor, Robert Badal, to cut the ceremonial ribbon to declare open the new US$100 million Pegasus Suites and Corporate Centre in Kingston.
At the launch of the new facility, President Ali said that the project should serve as an example to other Guyanese businesses.

The Pegasus Suites and Corporate Centre, which earlier in the year housed foreign dignitaries before its doors were officially opened, held its grand opening during which it was revealed that the two structures will serve as a new dimension to Guyana’s local hospitality sector.

Dr. Ali described the project as iconic and transformational, noting that no Guyanese living 30 years ago would imagine that such a project could have been possible here.
He added that the building is one that has some history that no other could match, as it is the first that had so many Heads of Government stay prior to its opening. The President noted that all who stayed previously had enjoyed their stay, so it is clear that serious thought was put into the project.

Such an investment by a Guyanese entrepreneur, according to Dr. Ali, should serve as inspiration to the business sector, especially as it regards perseverance and strategic thinking.
“But I want to say to all of you here, that this investment should be an inspiration to the naysayers, it must be an inspiration to the naysayers… with perseverance, commitment to a vision… embracing those ideas and believing that it can happen and it will happen,” President Ali said.

To this end, the Head of State urged the local private sector to think positive and embrace the opportunity, while being ready to make changes to their business models and to also make investments.
President Ali specifically mentioned the private sector, as he told those gathered at Pegasus that there are lots of opportunities that the stakeholders could tap into once they embrace change.

“This is an example of how to do it right,” the Head of State said, adding that he would hope that the Pegasus’ proprietor would pass on his knowledge on how to accomplish such investments.
Meanwhile, the proprietor, Mr Badal, during his address at the official opening, said that the project is a historic one for the company, Georgetown, and Guyana as a whole.

Mr Badal mentioned that the project was conceived long before Guyana struck oil and even with the country’s new oil prospects, they are happy that the business could benefit from the spinoff opportunities.
The project, the investor said, is in reaction to the need for capacity-building and the expansion of rooms and conference facilities along with corporate spaces.

“It’s a direct reaction to the vision of our President, Dr. Ali, in his quest to bring about transformational change, change not only in the oil sector but in the housing sector,” Badal said.
This change, which he said has been championed by the President on the international stage, has brought a new wave of optimism to Guyana in relation to investments and more. As such, he applauded the leadership of President Ali.

Badal said: “This is the new symbol of our One-Guyana, from a dumpsite of over 50 years to two magnificent buildings comprising 100 executive suites on this 12-story Atlantic tower and 180,000 square feet of grade A corporate offices and restaurants on the adjacent seven-story tower all surrounded by well-manicured lawns.”

Badal said that the development is unrivalled in the region as it brings a new dimension to the local hospitality sector. The two structures, he said, serve as a combination of high-end one-bedroom executive suites and Grade A offices which offer business executives comfort in both living spaces and first-world equipped offices.

The new development brings Pegasus’ room inventory to a total of 230 rooms, which offer accommodation at all price ranges from regular standard rooms to deluxe executive rooms in the Pegasus tower to executive business suites which range from 700 square feet to 1,100 square feet.

Pegasus Suites and Corporate Centre comprises two towers, which feature presidential suites, a conference centre, a modern and chic restaurant and underground parking for over 200 cars.
The luxurious hotel and corporate space was constructed by the China Harbour Engineering Company and features building materials from Spain, Germany, the United States of America and China and is said to be of international standard.