Megaworld Corporation Chairman Andrew L. Tan on Monday, September 20, 2021, said that they will invest $797 million or ₱40 billion to develop an ‘eco-tourism township’ in San Vicente, Palawan which will take 10-15 years to complete the project.
Mr. Tan said that the project is named “Paragua Coastown”. It took from Palawan’s old name, Paraqua.
He added that the project will feature hotels, spas, resorts, schools, cultural center, a mangrove reserved park, shop house district and residential developments such as private villas and service apartments.
These establishments will be built in 462 hectares of beach front and inland properties on the shores of the “longest white sand beach” located in Port Barton.
According to Kevin Tan, the eldest son of business tycoon Andrew Tan, the new township in San Vicente “will showcase the best of sustainable tourism and green living.”
“More than just sustainable tourism, our vision for this expansive Palawan property is to provide an opportunity to those who want the island life to live and even raise their families here,” he added.
He expressed that they will also provide the facilities and amenities for holistic wellness for future residents.
Tan also assures the preservation of the island’s biodiversity as they transform it into world-class development.
The project is a few minutes away from the San Vicente airport, which has regular domestic flights to and from Ninoy Aquino International Airport (NAIA) and Clark International Airport Corporation (CIAC).
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