real estate industry

Megaworld upbeat on tourism rebound, plans P40-billion Palawan township

Ralf Rivas
Megaworld upbeat on tourism rebound, plans P40-billion Palawan township
The 462-hectare Paragua Coastown will feature hotels, a cultural center, and a mangrove reserve park

Megaworld Corporation is developing an eco-tourism township in San Vicente, Palawan, worth at least P40 billion, as the property giant remains upbeat on the tourism industry’s recovery from the coronavirus pandemic.

To be named Paragua Coastown, the 462-hectare development will feature hotels, health and wellness sanctuaries, a cultural center, private villas, and a mangrove reserve park.

San Vicente is also known as Long Beach, as it has 15 kilometers of coastline – the second longest in Southeast Asia and three times longer than Boracay’s.

Paragua Coastown, to be developed in the next 10 to 15 years, will be near the San Vicente Airport, which serves regular flights to and from Manila and Clark, Pampanga.

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“As we grow our sustainable developments portfolio, this new township in the beautiful town of San Vicente in Palawan 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,” said Kevin Tan, Megaworld chief strategy officer. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.