The Sheriff Group of Companies today turned the sod for the first mall in Guyana’s Berbice County.
The four-phase mall will be located at Palmyra, close to the Berbice River bridge.
The region is quickly becoming a hub for development because of spin-offs from the oil and gas sector.
At the sod-turning ceremony, Ameir Ahmad – one of the proprietors of the Sheriff Group – disclosed that the first phase is expected to cost GY$1.3 billion (approximately US$6.2 million) The first phase is expected to be completed in August 2024.
Regional Chairman, David Armogan, who delivered the featured address at the program stressed that the mall will be a center of attraction for economic activity in the region, and commended Sheriff Group of Companies for taking the lead.
He encouraged other investors to follow suit.
Along with this development, CGX Energy is constructing a massive port at Palmyra to service Guyana and Suriname’s energy needs.
The Stabroek block partners – ExxonMobil, Hess and CNOOC – through the Greater Guyana Initiative (GGI) are contributing GY$3.7 billion (approximately US$17.7 million) for the construction of the first-ever multi-purpose facility. This will be located right at Palmyra as well.
The region will also house Guyana’s first oil and gas and hospitality training institute at Port Mourant. A refinery is in the works to be built at Crab Island, at the mouth of the Berbice River.
