Corum Group, the company which planned to build a Holiday Inn hotel at Ogle, East Coast Demerara, has now given up the lands it was allocated as it works with the government to allow for a new process.
In a press statement from its managing director Clairmont Cummings, Corum Group stated that in 2017 it submitted an expression of interest (EOI) to NICIL for the lease of lands to develop the hotel and in November 2018, after high level meetings which included market visits by senior directors at Intercontinental Hotel Group (IHG), Corum Signed a Memorandum of Understanding with IHG for the development of Holiday Inn Guyana.
On January 23, 2020 Corum Group Inc said it received approval from NICIL to lease five acres of lands located at Ogle Plantations but that it now understands that the new Government is seeking to reclaim all lands sold and or leased within the Ogle area.
“Corum Group Inc. wishes to voluntarily revert lands to NICIL, without prejudice to support the Government of Guyana in its mandate.
“Notwithstanding, we at Corum look forward to working with NICIL and the Government of Guyana through its recently announced Request for Proposals (RFP) to build an international hotel in Guyana at the appropriate time,” the Group stated.
I am impressed by the maturity being shown by the investors. It is important that the process is transparent and competitive and worthwhile for the National Treasury.
Kudos to the Corum Group and the others.