[www.inewsguyana.com] – The Memorandum of Understanding (MoU) between investors and Go-Invest for the construction of a five-star hotel by a Dubai-based company at Liliendaal, East Coast Demerara contains similar investment incentives provided for the Marriott Hotel at Kingston.
Following investigation by iNews, an MoU signed last year [2013] between investors Sand and Sun Group, BK International [the only minority shareholder] and Go-Invest provides for incentives and conditions similar to that of the internationally-re known brand Marriott.
iNews also learnt that the price being paid for the land is higher than what the government had received for adjoining plots at Liliendaal through an open, tender process.
The five-star hotel investors reportedly are paying in excess of $12M per acre while the government through a tender process earned $5M per acre in the same area. This investment will see a five-state hotel and a casino.
iNews had reported on July 9 that the US$54 Million hotel will include 163 rooms and Casino. Full scale construction works are expected to begin in August and the project should be completed by the end of 2015.
See Gray. Taxpayers money could have been used to create employment for our poor PPP supporters!
YOU BUILD IT THEY WILL COME::NO MORE GOING BACK TO THE LATRINE PIT PEG N TOWER..