Property developer Megaworld Corp. and its unit Suntrust Properties Inc., will develop a P7-billion, six-hectare property in Puerto Princesa in Palawan into “a lifestyle estate.”
Located along the Puerto Princesa South Road in Palawan’s capital city and overlooking the Puerto Princesa Bay, the development, which will be called Baytown Palawan, will be Megaworld’s 31st township development in the country. It will host residential condominium projects, hotels, as well as commercial retail developments.
“Finally, we are building our signature concept of a lifestyle estate in this Palawan capital city where the residential components of the township perfectly blend with the commercial hub, and of course, the hotel developments within the mix as well. Our themed residential condominium clusters will complement the city’s relaxing natural environment,” Harrison Paltongan, president of Suntrust said.
The company has allocated P7 billion to develop the lifestyle estate in the next five years.
“We are bringing the vibrant concept of our very own Forbes Town to Puerto Princesa. We are excited on how Baytown will be able to transform the cityscape of Puerto Princesa,” Javier Romeo Abustan, vice president of sales and marketing, Megaworld Palawan, said.
Most of the residential condominium clusters inside the property will be developed by Suntrust. Megaworld will also be developing an upscale and exclusive residential community within the lifestyle estate.
Baytown Palawan is Megaworld’s second mixed-use development project in Palawan. On the other hand, this is Suntrust’s first development in the province as part of its expansion across the country.
Megaworld is currently developing the 462-hectare Paragua Coastown in San Vicente, known to have the longest beachline in the country.
The development has already launched several residential, commercial, and hotel projects during the past two years, and land development is currently ongoing, the company said.