Maloney linked to possible Guyana investment

Barbadian businessman and housing developer Mark Maloney is reportedly spreading his wings to Guyana, holding meetings with the newly elected President about a possible investment there.

Prior to the coronavirus (COVID-19) pandemic’s impact, Guyana was regarded as one of the world’s fastest growing economies, fuelled mainly by its massive oil and natural gas finds.

According to media reports from Guyana, Maloney has held meetings with President Irfaan Ali to discuss possible projects in the South American state.

Stabroek News said its sources indicated that the principal behind the US$175 million Hyatt Ziva Barbados Resort on Bay Street and The Village at Coverley in Christ Church is eyeing investments in “areas of housing and other sectors”.

Maloney’s visit reportedly preceded an announcement by the new administration that it was courting investors to raise US$250 million to support its housing development plans and is seeking expressions of interest.

With multi-million dollar investments in projects in Barbados, Maloney also owns the Rock Hard Cement Company and shares a business partnership with Barbadian developer Bjorn Bjerkham of the Preconco, Marina Construction, and the Jada Group and Caribbean Homes businesses.

Maloney, who is a known figure in Guyana through his motor racing exploits, has often competed there.

Guyana also recently got the attention of some high profile business executives as representatives of famed Shark Tank billionaire and US investor Mark Cuban’s Radical Investments LLC, arrived in the country aboard a luxury jet for a two-day visit.

The three-member contingent, two Guyanese and a Paula Garces, had no planned meetings with government according to the country’s Go-Invest investment czar, Peter Ramsaroop. (IMC1)