Construction of residential complex paused as another company surrenders Ogle land
American Marine Services Inc. is the latest company to join at least four other companies in returning former sugar estate lands at Ogle, East Coast Demerara which were issued to them by the former APNU+AFC Government.
The companies to surrender lands have all stated interest of participating in a more transparent process.
With the return of the People’s Progressive Party to Government, several companies including Winsor Estates, Cardiology Services Inc., Hospital Developer and Navigant Builders have all returned lands issued to them.
In a statement on Tuesday, American Marine Services Inc said it entered into an Agreement of Sales with the National Industrial and Commercial Investment Limited (NICIL) for 20 acres of lands at Ogle, East Coast Demerara for the purpose of constructing a 247-unit residential complex.
“Given the circumstances surrounding the vesting of that property, we announce that we have agreed to surrender our interest in those lands with NICIL,” the statement added.
The company says it looks forward to working with the Government of Guyana and NICIL towards achieving its development goals.
The move by the former Government and NICIL to sell several plots of the Ogle lands, formerly under sugar cane cultivation to developers had raised eyebrows.
Most of the lots were sold shortly before the March 2 elections. Both Navigant and Cardiology Services are saying that the lands were transferred to them despite the payments not being completed.
The questionable transactions involved the transfer of the lands located near a major planned highway that would link the East Coast to the East Bank of Demerara.