MANILA - Megaworld Corp said Wednesday it would develop sustainable boutique hotels and a shophouse district in San Vicente, Palawan.
The 462-hectare Paragua Coastown, located in Kemdeng with its own beachline, is expected to generate P5 billion in sales, Megaworld said in a disclosure to the stock exchange.
The development will house the Mercato Shophouse District and Porto Hotel District which will have 240 lots ranging from 250 square meters to 599 sqm for shophouses, and 450 sqm to 1,199 sqm for boutique hotels, it said.
The development will offer businesses and entrepreneurs such as hotel owners, restaurants, coffee shop, bars and retail shop operators to own land in San Vicente, Megaworld Head of Sales and Marketing JR Abustan said.
"What we're building here will hopefully help San Vicente become the most popular eco-tourism spot in Palawan and the entire country. 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," he said.
Abustan said the development would have close access to the Long Beach Area of San Vicente, which was designated as a Tourism Enterprise Zone of the Tourism Infrastructure and Enterprise Zone Authority (TIEZA).
Mixed-use developments, medical and wellness facilities, church and other leisure and institutional amenities will be located within the area, Megaworld said.
Megaworld is known for developing townships with complete amenities such as residential, office space and retail outlets, among others.