NBA legend Hakeem Olajuwon invests in TAJ DIAMOND, signalling global confidence in Guyana’s booming real estate market

Basketball Hall of Famer Hakeem Olajuwon has joined the growing wave of international investors turning their attention to Guyana, confirming the purchase of two luxury homes in the TAJ DIAMOND master-planned community being developed along the East Bank Corridor.

Olajuwon’s investment marks his first major step into the local market after a series of visits over the past year during which he explored opportunities in both real estate and the oil and gas sector. The former NBA star, who has an extensive property portfolio in Houston and across several global cities, said Guyana’s trajectory mirrors that of some of the world’s most successful emerging economies.

“Guyana is a slam dunk!” Olajuwon declared. “It’s English-speaking, a strong ally of the United States, the fastest-growing country in the world, and its government welcomes foreign investment. I’m proud to be part of what Coastal Rim is building here.”

His involvement follows meetings earlier this year with President Dr Irfaan Ali and members of the local sports fraternity. Olajuwon also signalled interest in future joint ventures with U.S.-based developer Coastal Rim Properties, which is leading the TAJ DIAMOND project.

In another significant development, South Korea’s Gudo Investment Management Co., Ltd, in partnership with Gudo Partners LLC of the United States, has acquired multiple rental units within the TAJ DIAMOND community. The move is being described as one of the first major institutional capital injections into Guyana’s residential real estate sector.

Gudo Chairman Sung Hoon Baik said the firm sees long-term potential in Guyana’s fast-growing economy.

“Guyana is one of the most exciting emerging markets in the world, and Coastal Rim’s vision for TAJ DIAMOND stood out immediately,” Baik noted. “We see strong fundamentals such as rapid economic growth, political stability, and genuine global interest.”

TAJ DIAMOND launched at an early-bird price of US$250,000 per home, but rapid demand has pushed starting prices to US$400,000, with further increases planned every one to two months as construction progresses. Nearly half of the 218 planned three-storey luxury homes have already been reserved.

The gated community will feature private two-car garages, 24/7 armed security, a clubhouse, resort-style pool, cinema, fitness centre, premium retail and dining—including Morton’s The Steakhouse as anchor—and an optional 14% yield leaseback programme offering passive income.

Nicola Mola, Lead Developer at Coastal Rim Properties, described the wave of global interest as a defining moment for Guyana.

“To have a global icon like Hakeem Olajuwon, alongside an institutional investor like Gudo, represents a watershed moment,” Mola said. “It shows the world that Guyana is open for high-quality development, world-class partnerships, and serious capital.”

He added that Coastal Rim is preparing to launch a new upscale condominium development in Guyana, with units starting at US$100,000.

Local private sector consultant Rosh Khan said the project reflects Guyana’s rising stature among global investors.

“This project represents the calibre of development that Guyana demands—bold, modern, and built for the future,” Khan said, adding that TAJ DIAMOND could set new standards for years to come.

Coastal Rim Properties, the developer behind the project, has more than 50 years of experience delivering residential, commercial, and mixed-use developments across emerging markets internationally.

Further details on ownership, leasing, and investment opportunities are available at the TAJ DIAMOND website.