Megaworld to sell P5 B lots in Palawan

Published December 1, 2021, 3:11 PM

by James A. Loyola

Township developer Megaworld Corp. is aiming to generate P5 billion from the sale of lots in its sustainable boutique hotel and shophouse district within its 462-hectare Paragua Coastown in San Vicente, Palawan.

Located in Kemdeng with its own beachline, the master-planned Mercato Shophouse District and the Porto Hotel District will offer 240 lots ranging from 250 square meters to 599 square meters for shophouses, and 450 square meters to 1,199 square meters for boutique hotels.

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“Both Mercato Shophouse District and Porto Hotel District are interconnected to each other, providing convenient walkability through expansive sidewalks and bridges,” said Megaworld in a disclosure to the Philippine Stock Exchange.

This district is also surrounded by landscaped parks and gardens, and an esplanade along the creek. It will also have access to the Mangrove Reserve Park via an iconic bridge.

“Our eco-tourism township offers businesses and entrepreneurs such as hotel owners, restaurateurs, coffee shop and bar operators, and retail shop owners to own land in San Vicente, particularly inside our master-planned beachside development,” said Megaworld Palawan Sales and Marketing Head JR Abustan.

Paragua Coastown – Mercato Shophouse District

He added that, “This district that we are developing in Kemdeng will have close access to the coastline of Long Bea ch Area of San Vicente, which has been designated as a Tourism Enterprise Zone (TEZ) of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA).” TIEZA’s Tourism Enterprise Zones have special incentives for tourism-related businesses such as tax holidays.

The Mercato Shophouse District and Porto Hotel District will have direct access to San Vicente Town Proper and the San Vicente Airport via the municipal and coastal roads that traverses the township.

This first area of the expansive Paragua Coastown that is being developed in Kemdeng will also have several mixed-use developments, medical and wellness facilities, church, and other leisure and institutional amenities once completed.

Paragua Coastown – Porto Hotel District

Other areas for future development within Paragua Coastown include several town barangays, which will mostly have access to Long Beach as well.

San Vicente Long Beach boasts of having the longest beach line in the country and the second longest in the entire Southeast Asia.

“We will definitely have unique residential and recreational offerings inside Paragua Coastown as well. What we are building here will hopefully help San Vicente become the most popular eco-tourism spot in Palawan and the entire country,” said Abustan.

He noted that, “But of course, we give utmost importance to sustainable real estate because this is what everyone will be looking for when they decide to invest in Palawan.” Megaworld has allocated P40-billion to develop the entire eco-tourism township in the next 10 to 15 years.

 
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