Property developer Megaworld Corp. and its unit Suntrust Properties, Inc., will develop for P7 billion, a six-hectare property in Puerto Princesa in Palawan into what it calls a lifestyle estate.
Located along the South Road in Palawan’s capital city overlooking the Puerto Princesa Bay, the development dubbed 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 over 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 transform the cityscape of Puerto Princesa,” Javier Romeo Abustan, vice president for sales and marketing at Megaworld Palawan, said.
Most of the residential condominium clusters in 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 but this is Suntrust’s first development in the province as part of its expansion across the country.
Megaworld is developing the 462-hectare Paragua Coastown in San Vicente reputed to have the longest beach line in the country.
The development has already launched several residential, commercial and hotel projects the past two years.
