With the rapid growth of Guyana’s economy consequent to the emerging oil and gas industry which has significantly increased the demand for properties, one of the largest real estate firms in the world has answered the call to provide its services locally.
Century 21, which operates in more than 72 countries in the world with more than 121,000 real estate agents, on Wednesday opened its doors at Lot 85A Lamaha Street, Georgetown.
“Our President [Dr Irfaan Ali] has made a call to the diaspora, he wants investment back into the country so I answered that call, that’s why I’m here,” Chief Executive Officer of Century 21 Guyana, Chief Samsair said while delivering remarks at the opening ceremony.
He emphasised that the company intends to create hundreds of jobs for locals and to open as many as 10 to 15 offices across the country.
“Anywhere there is land in Guyana, there is a need for a real estate office – in all the different regions. Century 21 is more of a servicing company, so we are here to service the locals,” Samsair said.
Delivering remarks, Minister of Housing and Water, Collin Croal welcomed the investment and pledged the government’s commitment to facilitating a conducive business environment.
“The standard that we will expect you to set in terms of the principle that governs the real estate industry, even in the absence of draconian regulatory authority, our government stands ready to help you,” Croal said.
He highlighted that there is a huge demand for housing locally from companies coming to Guyana which requires “first world standards” and Century 21 is well-positioned to deliver and help to uplift the real estate sector.
Croal said the onus is on real estate agents to conduct themselves in an investment-friendly manner since they are on the frontline of the investment chain and their interactions can determine whether investments remain in the country.
He also issued a stern warning to real estate agents to deliver what they promise to customers, noting that the government is paying attention and will do everything possible to protect citizens and investors.
Meanwhile, Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop told the gathering that locals should see large firms such as Century 21 coming to Guyana as an opportunity to collaborate and partner with them.
“We have to be proud that we are attracting the big names but it doesn’t mean it affects our local content legislation. If some real estate agents can get together and compete with Century 21, I think we’re all in favour of supporting that too,” Ramsaroop contended.
