MEGAWORLD Corp. is set to construct its first beachside residential property in Palawan from which it expects to generate about P2.3 billion in sales, it said on Wednesday.
In a media release, the company said the 10-storey Oceanfront Premier Residences would be located within its 462-hectare ecotourism township Paragua Coastown in San Vicente. It anticipates completion by 2028.
The condominium will offer 189 smart home units ranging from studio with balcony at 32 square meters (sq.m.) to executive studio at up to 42 sq.m. and executive studio with balcony at up to 38 sq.m.
Other units on offer are 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 bedrooms at 64 sq.m., two bedrooms with balcony at up to 71 sq.m., and two-bedroom premier suite with balcony at up to 105.5 sq.m.
Megaworld Palawan Head of Sales and Marketing Javier Romeo K. Abustan said new unit varieties — one-bedroom and two-bedroom premier suites — come with features specifically designed to give active adults the freedom and ease of movement throughout their space.
The property will also offer retail areas at the ground level and an infinity pool, a children’s pool, an in-pool lounge and pool deck, a reading nook and meditation area, and outdoor lounges on the third floor.
Additionally, it will offer a function room, a fitness center with a yoga area, a co-working space, a game room, and a daycare.
Mr. Abustan said the project’s location is a short distance away from the beach and the soon-to-rise Savoy Palawan.
The company recently launched the 10-storey Savoy Palawan, its first hotel in the province and its fourth property under the Savoy Hotel portfolio managed by Megaworld Hotels and Resorts. The hotel is set to offer 306 guest rooms.
“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,” he added.
Megaworld shares fell by 0.5% or a centavo to P2 apiece on Wednesday. — Adrian H. Halili