Following concerns raised by the Alliance for Change (AFC) in relation to commercial lands sold to New Global Investment Corporation a company for which American based Guyanese Edul Ahmad (Ed Ahmad) is the Director or Secretary, the Central Housing and Planning Authority said the acquisition of commercial land is an open process.
The housing agency in a press statement said it guarantees that all transactions follow established protocols, rigorously, including those concerning the recent sale of commercial lands.
According to the Central Housing and Planning Authority, multiple developers expressed interest and met the outlined criteria to whom it moved decisively to sell lands.
While not mentioning leader of the AFC and Edul Ahmad, the housing agency said a uniform price of $30 million per acre was established for all developers, adding that there was no preferential rates or special considerations afforded to any entity.
CH&PA said companies that acquired prime commercial lands are expected to adhere to the stipulated agreements regarding property use. Any deviation from these agreements will incur penalties, as detailed in the contractual agreements.
The housing agency said it is committed to ensuring a fair and transparent process for the allocation of both residential and commercial lands, fully aligned with national development goals.
Edul Ahmad who pleaded guilty to conspiracy to commit Bank and Wire Fraud in 2017 was sentenced to twenty-four months in custody and five years of supervised release. However special conditions were attached to the sentence which includes that he complies with the forfeiture order; comply with the restitution order; that he provide full financial disclosure; will not work in the mortgage industry; and must assist the Probation Office in verifying any employment he secures.