Megaworld Corp. is developing a 462-hectare beachfront and inland property in San Vicente, Palawan into an eco-tourism township.
This is the company’s first project in Palawan, its first large mixed-use development in the westernmost province of the Philippines, which it said is a testament to its optimism of a “fast recovery of the country’s tourism industry after the pandemic.”
Megaworld said the project will be named Paragua Coastown and will be developed for P40 billion for 10 to 15 years.
Megaworld said Paragua Coastown will be its 27th township and 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.
The project is 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 be highlighted by 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 said.
Kevin Tan, Megaworld chief strategy officer, said the latest project “will showcase the best of sustainable tourism and green living.”
“While we transform it into a world-class development, we also commit to the preservation of the island’s biodiversity,” he said.
The first area to be developed is around 83 hectares of land in Kemdeng, which has its own beach line
Paragua is an old name for Palawan that dates back to the Spanish occupation period.
Paragua was renamed Castilla and Asturias when the province was divided into two by Spain, before it was returned to a single province named Paragua, again, under the American rule.
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.
