Megaworld Corporation is spending P40 billion in 10 to 15 years to develop 462 hectares of beachfront and inland properties in San Vicente, Palawan into an eco-tourism township.
In a disclosure to the Philippine Stock Exchange, the firm said this shows that it remains optimistic on the fast recovery of the country’s tourism industry after the pandemic.
To be named Paragua Coastown, this 27th Megaworld township will feature some of the most beautiful beaches along the coastline of San Vicente, including Port Barton, one of the most famous tourist attractions of the town known for its 22 small islands.
It is also strategically located within a few minutes away from the San Vicente Airport, which serves regular flights to and from Manila and Clark.
Paragua Coastown will feature hotels and resorts, health and wellness sanctuaries, cultural center, educational institutions, a boutique hotel district, a shophouse district, as well as residential developments such as private villas, serviced apartments, themed residential villages, and a mangrove reserve park.
“As we grow our sustainable developments portfolio, this new township in the beautiful town of San Vicente in Palawan will showcase the best of sustainable tourism and green living,” said Megaworld Chief Strategy Officer Kevin L. Tan.
He added that, “While we transform it into a world-class development, we also commit to the preservation of the island’s biodiversity.”
The first area of Paragua Coastown to be developed is around 83-hectares of land in Kemdeng, which has its own beach line.
“More than just sustainable tourism, our vision for this expansive Palawan property is to provide an opportunity to those who want the island-life to live and even raise their families here,” said Tan.
He noted that, “Aside from the preserved natural surroundings of the beach, mountains and cliffs of San Vicente, we will also provide the facilities and amenities for holistic wellness for our future residents.”
Paragua used to be the name of Palawan when the Americans established civil rule in the northern part of the province after the Philippine-American war of 1902. A year after, the province was re-organized to include the southern part and it was renamed Palawan with Puerto Princesa as its capital.
The town of San Vicente is known to have the longest white-sand beach in the Philippines, and the second longest beach in Southeast Asia, which is called the Long Beach, covering almost 15-kilometers of coastline – three times longer than Boracay’s White Beach.