SIR Investments Ltd recently informed the Environmental Protection Agency (EPA) of its intention to develop a Hyatt Place Hotel to be located at 2441 Block 3 Providence, East Bank, Demerara (EBD).

The Hyatt brand is anticipated to position the project as one of the leading hotel developments in Guyana. The hotel will not only target travelling professionals and stakeholders associated with Guyana’s emerging oil and gas sector, but persons travelling for leisure and tourism purposes.

Project documents note that the hotel will be in proximity to the East Bank Public Road and is within the vicinity of the Guyana National Stadium and the Amazonia mall. It is bounded by the Texila American University compound and the Qualfon Guyana Campus. The hotel is expected to occupy 2.733 acres of a main five-acre parcel which is accessed off “Red” road.

This rectangular site with a north-south orientation is presently provided with boundary walls and is essentially flat with minimal vegetative cover and has an established main drainage course along the roadside boundary. The hotel which has six floors is being developed utilising the prototypical concepts provided by the Hyatt Corporation.

The essential provisions are to serve 136 guest rooms on five upper floors with the ground floor providing lobby, and lounges.

Importantly, developers informed the EPA that the architecture of the building was designed and engineered using green engineering technology in keeping with the country’s Low Carbon Development Strategy (LCDS).

The developmental budget for the project is approximately US$35 million and is financed through a private bank loan.

It is anticipated that during construction, 250 to 300 persons would be employed, 95% of which are expected to be Guyanese nationals. It is expected to have the building completed in February 2024. The duration of this phase is expected to be 20 months.

Approximately 70 to 80 permanent jobs with several part-time roles would be created, 90% of which are expected to be Guyanese nationals. The design life for the project is 100 years.

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