Urban township developer Megaworld Corporation and its wholly-owned subsidiary Suntrust Properties Inc. are spending P7 billion to develop a six-hectare property in Puerto Princesa City, Palawan into a lifestyle estate.
In a statement, Megaworld said the project called Baytown Palawan will be located along the Puerto Princesa South Road in Palawan’s capital city and overlooking the Puerto Princesa Bay.
Baytown Palawan will be Megaworld’s 31st township development in the country and its second mixed-use development in Palawan. It will host residential condominium projects, hotels, as well as commercial retail developments.
“Finally, we are building our signature concept of a ‘lifestyle estate’ in this Palawan capital city where the residential components of the township perfectly blend with the commercial hub, and of course, the hotel developments within the mix as well,” said Suntrust President Harrison Paltongan.
He addd that, “our themed residential condominium clusters will complement the city’s relaxing natural environment.”
“We are bringing the vibrant concept of our very own Forbes Town BGC to Puerto Princesa. We are excited on how Baytown will be able to transform the cityscape of Puerto Princesa,” said Megaworld Palawan Vice President of Sales and Marketing Javier Romeo Abustan.
Most of the residential condominium clusters inside Baytown will be developed by Suntrust Properties. Megaworld will also be developing an upscale and exclusive residential community within the lifestyle estate.
The company is slated to start land development by next year and is allocating P7 billion to develop the lifestyle estate in the next five years. This is Suntrust’s first development in the province as part of its expansion across the country.
Megaworld is currently developing the 462-hectare Paragua Coastown, an eco-tourism community in San Vicente, which is known to have the longest beachline in the country.
Paragua Coastown has already launched several residential, commercial, and hotel projects during the past two years, and land development is currently ongoing.