Georgetown: As the owners of the estimated US$24M Giftland Mall prepare for a July 2 grand opening, the popular retail store is preparing to close the doors of its Water Street branch. This will be to facilitate the shift in operations to the company’s new Liliendaal, East Coast Demerara location.
Chief Executive Officer (CEO) of the Giftland Mall, Ian Ramdeo, it was related that the finished complex will take up 6.3 acres of land, with 3 acres reserved for parking. According to Ramdeo, about 50 percent of the US$24M project was funded by the company, while the rest was funded by loans from various banks and financiers.
The CEO explained that July 2 will be the mall’s “phase one” opening, as sections of the complex are still under construction.
The mall’s phase one opening will include an Electronic Store, Sports Store and Department Store. In addition to the three stores, the company will be commissioning two of the eight cinema screens from its movie section along with a section of the mall’s food court.
As the complex progresses in its operations, Ramdeo said that more sections will open.
Providing the cinema facilities will be the Puerto Rican company ‘Caribbean Cinemas’ which has opened over 400 screens across the region. Their Guyana opening will be the company’s first mainland operations in this country, while the Manager assured that the cinema will incorporate the latest technology, including 3D capability.
Additionally, the mall will have a food court with over 16 concessions. By the time of the July 2 opening, Ramdeo said that four of those concessions will be operational.
“They (people) say we are taking a calculated risk in moving from the heart of the city,” he said, “but our company is of the view that the mall would be a major success for Guyana, wherever it is located.”
Ramdeo added that to facilitate the move, the company has made provisions for its staff and customers, as he mentioned that the mall will eventually have a bus terminal.
As one of the country’s most popular retail companies, the CEO maintained that despite Giftland’s new location, the company will continue with their highly competitive pricing standards. He shared that Giftland will be providing furniture for the first time, with most of the suppliers being from France. He added that customers can see up to 20 percent in reduced pricing.
“I think one of the driving forces behind us being so focused on customers is because we ourselves are customers, and we view ourselves as customers, and we try to ensure that the customers don’t face the same problem,” said Ramdeo.
In total, the mall is expected to have 120 concessions, with Republic Bank already signed up to provide its services, as the company is in negotiations to bring other banks on board.
When the mall is fully operational, it will be able to provide approximately 2000 jobs, as stores will be required to run from 08:00hrs to 21:00hrs. Meanwhile, the rest of the mall is designed to operate up to midnight, with some sections going beyond that.
As the company eyes a July 2 opening, Ramdeo related that the mall’s previous delays were as a result of the international economic downturn in recent years, as well as issues relating to facilitating electrical power to the complex. To power the facility, the company has employed a 5MW generator.
Ramdeo shared that the company is willing to provide the surrounding communities with the power surplus which the generator will produce, in an effort to fulfil its corporate responsibility to the area.
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