Megaworld, led by property developer Andrew Tan, has expanded its residential presence in Palawan by constructing its inaugural condominium in the Paragua Coastown township in San Vicente, Palawan.
The construction of Oceanfront Premier Residences, a 10-story residential building, is currently underway.
It will consist of 189 ‘smart home’ units of various sizes, with a total sales value estimated at approximately P2.3 billion. The anticipated completion date for this project is 2028.
According to JR Abustan, the head of sales and marketing of Megaworld Palawan, the condominium will be just a short stroll away from the beach and the upcoming Savoy Palawan.
Future inhabitants of Oceanfront Premier Residences will have the opportunity to indulge in a luxurious resort-style lifestyle and be captivated by the breathtaking natural surroundings.
Paragua Coastown is nestled between the pristine beach and the majestic mountains.
Oceanfront Premier Residences will incorporate green and sustainable elements.
These features encompass water-conserving fixtures in toilets and kitchens, occupancy sensors in hallways and parking floors to conserve energy, energy-efficient air-conditioning units and equipment, a rainwater harvesting system, and a dedicated materials recovery facility.
The two districts within the Paragua Coastown will be interconnected by expansive sidewalks and bridges, allowing convenient mobility for residents and guests.
These walkways will guide individuals to beautifully landscaped parks and gardens, an esplanade along the creek, and an upcoming Mangrove Reserve Park.
Recently, Megaworld unveiled Savoy Palawan, a 10-story hotel offering 306 guest rooms.
This marks the company’s first hotel venture in Palawan and the fourth property under the management and operation of Megaworld Hotels and Resorts within the Savoy Hotel portfolio.
In addition to the features above, Paragua Coastown will showcase health and wellness sanctuaries, a cultural center, educational institutions, and additional residential developments such as private villas, serviced apartments, and themed residential villages.
The development of Paragua Coastown allocates approximately 52 percent of its expansive 83-hectare area to nature reserves and open spaces.
PSE:MEG closed on Thursday, July 6, 2023, at P1.97 per share, down by 1.50%. It’s also down by 1.50% year-to-date. Support is at P1.90 while resistance is at P2.03, intersecting the P23.6% Fibonacci retracement.
Do You Need Help Trading or Investing on Stocks Mentioned in this Report?
Fix and rebalance your stock portfolio for optimal returns through our Stock Portfolio Rehabilitation Program.
Be a TITANIUM client to learn how to preserve capital, protect gains, and prevent unbearable losses when trading and investing in the Philippine stock market.
Be a PLATINUM client to request our in-depth technical analysis with recommendations tailored-it to your entry price, average cost, buy case, and risk tolerance.
Be a GOLD client to have a teleconsultation with us over the phone as trading happens.
- Key Prices for PH Bluechip Stocks 30% Above 52-Week Low - June 4, 2024
- May 2024 Market Sentiment Rating of 30 PH Bluechip Stocks - June 3, 2024
- EquiTalks: ICT, BPI, AEV Updates – 5.29.2024 - May 29, 2024
