Land preparation has begun for the construction of approximately 300 private waterfront residences at Madewini on the Soesdyke-Linden Highway.
This massive housing project, undertaken by the Ashmins Group of Companies, is expected to be completed in two years.
The official launch of the $2.5 billion project took place last week at the Marriott Hotel in Georgetown.
A beachfront hotel and an array of modern amenities are also part of the project, but according to coordinator Joel Cole, this will start in three years.
This new development will be called the Madewini Waterfront villas. A press release from Ashmins noted that the development is the second phase of the existing Madewini villas, located within the Splashmins Resort compound.
That housing community, the release said, will expand by 150 acres.
It was noted that Madewini villas owner Lennox John has a vision to create “a waterfront luxury community destination” in Guyana, that is just 10 minutes from the Cheddi Jagan International Airport (CJIA).
The development will house approximately 300 private opulent residences, a beach front hotel and an array of modern vital amenities in an eco-friendly environment and will be secured by armed lake and land patrols.
It is also expected to feature five artificial lakes, a public shopping centre and other attractions.
“The ($2.5 billion) development is a prime indication of the magnitude of investor’s confidence that prevails in the current Guyanese economy and government’s developmental drive as a whole,” the press release said.