Amid the significant changes taking place in Guyana, Ryan Shivraj, Managing Director of Buddy’s Housing Development, stated that the ongoing economic growth on the East Coast of Demerara has enabled his company to advance with massive investments in both residential and commercial areas.
The Managing Director exclusively highlighted to The El Dorado Beacon that Buddy’s establishment has led the way in real estate development in Guyana for over thirty years.
Using their experience and insight, Shivraj stated that they have consistently sought to anticipate future investment opportunities and identify where new developments are likely to occur in the coming years.
“Buddy’s has been a leader in real estate development in the country for the last three decades, he stated.
Given the current economic environment, it is very beneficial to pursue investments and new ideas. It gives you that opportunity to actually innovate.”
Shivraj further noted the rapid expansion of the Enmore community on the East Coast of Demerara, which will feature two highways, an industrial estate, a new geriatric home, and a state-of-the-art hospital, among other developments.
According to him, these initiatives have motivated the company to solidify its standing in both the residential and commercial sectors by getting ahead of other investors.
The Managing Director further noted that the US$25 million Shoreline Mall, set to be located in Enmore, is expected to generate job opportunities for over 250 individuals during its construction phase.
Shivraj stated that the 300,000-square-foot structure, which includes retailers, a food court, staff, and security, will generate a range of employment opportunities upon its completion.
Shivraj said, “We estimated roughly anywhere between 800 to 1200 jobs will be created with just the mall alone. Within the wider community, you will find sectors like transportation and other support services [benefitting] within the neighbourhood.”
Shivraj, while commending the government of Guyana for fostering a welcoming atmosphere for both private and public sectors, noted that this environment has unfolded numerous opportunities for investors like him to explore the government’s roadmap for future investments.
Reflecting on and examining his company’s growth from a few years prior to the current state, Shivraj said, “[A few years ago], things were stagnant; there was no signal of any sort of growth in the market, and people had a very conservative approach to doing things.
Even when we looked at what projects would work, five years ago you weren’t really sure what direction to take.
As soon as President Ali and the new government came into office, you saw a new energy in the market; you could have seen everything taking a turning point. It was from that time onwards that we found projects that started to shoot up in Guyana, in every direction.”
