Megaworld investing ₱40B to build 462-hectare eco-tourism township in Palawan

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Metro Manila (CNN Philippines, September 20) — Tycoon Andrew Tan’s Megaworld Corp. is shelling out ₱40 billion to develop a 462-hectare township in Palawan.

Buoyed by optimism that the pandemic-battered tourism sector could realize a rebound, the property giant is developing the beachfront and inland properties in San Vicente, Palawan into an eco-tourism township called Paragua Coastown.

"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 Kevin Tan, Megaworld’s chief strategy officer.

"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," he added.

The multibillion-peso Paragua Coastown—Megaworld's 27th township—boasts 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.

Megaworld will initially focus on the 83-hectare land in Kemdeng, flaunting its own beach line. Completing the whole project may take 10 to 15 years, the company said.

The property is located a few minutes away from the San Vicente Airport, which caters to flights from Manila and Clark.

The listed company is engaged in building residential condominium units, subdivision lots, and townhouses as well as office projects and retail spaces.