Portico developer speaks on land acquisitions

Portico developer speaks on land acquisitions

Once the Definitive Agreement had come to light, several issues and questions arose.  One had to do with the approval of land applications and purchases that were eventually sold to Portico Enterprises.  One of the main sellers was listed as businessman, Sunjay Hotchandani.  Documents reaching our newsroom back in early last year showed that Hotchandani had registered some seven companies, all with the same Albert Hoy Street address, and had sold hundreds of acres of land to Portico.   The approval of those lands were done some weeks prior to the 2020 general elections and were later sold for more than three times the purchase prices.  Gegg spoke on the acquisition of the lands and how it was done.

David Gegg, Portico Developer: “Years ago Portico acquired a primary piece of land which his 255 acres that extends from the sea backwards towards Northern lagoon. That land was acquired through Century 21 from a company called East Wind Holdings. It is my understanding that….”

Senator: What’s the name of the company again ? The name of the company.

David Gegg, Portico Developer: “The name of the company that we purchased it from was East Wind Holdings. It’s my understanding that company prior to East Wind Holdings was owned by the Silky Stewart Family and indeed the original title for that property goes back I believe to 1990.”

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