Megaworld Corporation is expanding its township footprint to Ilocos Norte by investing P15 billion to develop an 84-hectare land along the coastline of Laoag City into a premium mixed-use beachside township.
In a disclosure to the Philippine Stock Exchange, the firm said the budget will be spent over 15 years to develop Ilocandia Coastown—the 34th township development under its portfolio.
“This is a wonderful start for our Group’s investment in the Ilocos Region, particularly in the capital city of Laoag,” said Kevin L. Tan, president and CEO of Alliance Global Group, the parent company of Megaworld.
He added that, “We see a lot of opportunities in this part of the country especially on tourism, and we hope to unlock these opportunities through this development.”
Megaworld said the township will feature upscale residential developments, a shophouse district, and a commercial district, as well as its own town center that will serve as an iconic focal point of the entire development.
The entire development will have architectural inspiration drawn from Filipino and Spanish heritage designs.
Ilocandia Coastown also has its own 1.4-kilometer beach line, and includes an area of sand dunes, which Ilocos Norte has been famous for.
It is strategically located just adjacent to the world-famous Fort Ilocandia Hotel. The project site is only around 15 minutes away from Laoag International Airport and is also less than 30 minutes away from the historic Paoay Church.
A study conducted by the Philippine Statistics Authority (PSA) last April revealed that Ilocos region is the third fastest growing economy in the Philippines, next only to Central Visayas and Western Visayas.
Laoag City was also one of the 25 cities identified by the Department of Information and Communications Technology (DICT) for their Digital Cities 2025 program as a “viable business center capable of strengthening the countryside's economic development.”