Property developer Megaworld Corp. said Wednesday it will launch its first beachside residential condominium project in San Vicente, Palawan which it expects to generate P2.3 billion in sales.
Megaworld said in a disclosure to the stock exchange the 10-story Oceanfront Premier Residences would have 189 ‘smart home’ units within its ecotourism township development called Paragua Coastown.
“Our first-ever residential condominium development will rise just a minute’s walk away from both the beach and the soon-to-rise Savoy Palawan. Future residents will be able to truly enjoy a luxurious resort lifestyle at Oceanfront Premier Residences and marvel at the beauty of the surrounding landscape since Paragua Coastown lies in between the pristine beach and the mountains,” said JR Abustan, head of sales and marketing of Megaworld Palawan.
The new residential development will offer from studio with balcony at 32 square meters to executive studio with balcony at up to 38 sq. m..
The tower will also offer one-bedroom with balcony at 44 sq. m., executive one-bedroom with balcony at up to 54 sq. m., one-bedroom premier suite with balcony at up to 71 sq. m., two-bedroom at 64 sq. m., two-bedroom with balcony at up to 71 sq. m. and two-bedroom premier suite with balcony at up to 105.5 sq. m.
Megaworld said the project is scheduled for completion by 2028.
All units at Oceanfront Premier Residences will feature wireless smart home systems, which can be accessed remotely using a dedicated phone app.
The phone app will allow residents to enjoy the ease and convenience of controlling a variety of features inside their units, including lighting fixtures and other smart appliances in the living, kitchen, dining areas and the bedroom.
About 52 percent of the 83-hectare area being developed inside Paragua Coastown is dedicated to nature-reserved and open areas.
Megaworld said that aside from residential, retail and hotel development, Paragua Coastown would also offer health and wellness sanctuaries, cultural center, educational institutions, as well as more residential developments such as private villas, serviced apartments and themed residential villages.