– US developer advances major Ogle and Diamond communities as demand for modern housing grows
TWO major United States-backed housing developments valued at more than US$500 million have entered the vertical construction phase, marking another milestone in Guyana’s rapidly expanding real estate sector as the country’s economic transformation continues to attract international investment.
According to a press release issued by developer Coastal Rim Properties Inc. (CRP), construction is progressing steadily on the TAJ Dream Ogle and TAJ Diamond developments, which together will deliver more than 1,200 residential units near Georgetown.
The company said the projects represent the largest private residential investments undertaken in Guyana to date.
CRP, a US-based developer with more than five decades of experience and a portfolio of over 6,000 residential units, is undertaking the developments in partnership with NBA Hall of Famer, Hakeem Olajuwon. The projects are being led by principals Nicola and Giovanni Mola.
At the flagship TAJ Dream Ogle development, which will comprise more than 1,000 condominium units, approximately 70 per cent of the road corridor infrastructure has been completed, while surveying and elevation works are about 85 per cent finished.
The company said drainage trenches along the northern and southern boundaries have been fully backfilled, and installation of a storm-water drainage system using large-diameter HDPE pipes is now underway.
Supporting infrastructure has also advanced, with the two-storey site office and conference facility nearing completion and the steel framework for the storage and logistics building already erected.
Meanwhile, construction at the TAJ Diamond development is also progressing. The 218-home community has entered its vertical construction stage, with steel columns and beams installed on the first 15 houses.
Foundation and slab works are ongoing across the site, while underground plumbing and masonry work have commenced on several units.
According to CRP, both developments are being constructed using US-manufactured, climate-treated structural steel designed to withstand Guyana’s coastal environment. The company added that daily safety briefings and engineering inspections are being conducted at both construction sites.
TAJ Dream Ogle is strategically located along the Ogle corridor, within minutes of the Eugene F. Correia International Airport, ExxonMobil Guyana’s headquarters, MovieTowne and Giftland Mall.
Upon completion, the mixed-use development will include residential condominiums, a walkable retail town square and a branded five-star hotel with a hospitality training institute. The developer expects the first residential buildings and initial retail phase to be completed by the spring of 2027.
Commenting on the progress, principal Nicola Mola said construction continues to gather momentum.
“Every week on site tells the same story. Momentum. What began as a vision for a new standard of living in Guyana is now rising out of the ground. We built these communities to international standards because Guyanese families, and the diaspora who have invested their belief in this country, deserve nothing less,” Mola said.
Guyana’s booming economy, driven by offshore oil production since 2019, has fuelled unprecedented growth in the country’s construction, hospitality and real estate sectors, with both local and international developers investing heavily to meet increasing demand for housing and commercial infrastructure.
CRP, which primarily operates across the western United States and Hawaii, said the Guyana developments mark the company’s first ground-up residential communities in the country.
