Megaworld Corp. and its wholly owned subsidiary Suntrust Properties Inc. earmarked P7 billion to transform a 6-hectare property into a ‘lifestyle estate’ in Puerto Princesa City, Palawan.
Megaworld said in a statement sent over the weekend Baytown Palawan, its 31st township development in the country, will host residential condominium projects, hotels and 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,” said Harrison Paltongan, president of Suntrust.
Suntrust will develop the residential condominium clusters inside the property, while Megaworld will build an upscale and exclusive residential community.
“We are bringing the vibrant concept of our very own Forbes Town BGC to Puerto Princesa. We are excited on how Baytown will be able to transform the cityscape of Puerto Princesa,” said Javier Romeo Abustan, vice president of sales and marketing of Megaworld Palawan.
Land development will start next year, according to Megaworld.
Baytown Palawan is Megaworld’s second mixed-use development in Palawan province. It is also developing the 462-hectare Paraguq Coastown—an eco-tourism community in San Vicente.
Megaworld has launched several residential, commercial and hotel projects in the area over the past two years.
