Thursday, December 2, 2021

Andrew Tan prepping for tourism’s rebound: Megaworld selling P5B worth of boutique hotel, commercial lots in Palawan

Megaworld is eyeing to generate around P5 billion from the sale of lots in its planned Mercato Shophouse and Porto Hotel District in San Vicente, Palawan.


Located within Megaworld’s P40 billion eco-tourism township in the Paragua Coastown, the master-planned Mercato Shophouse District and the Porto Hotel District is offering to the public 240 lots ranging from 250 to 599 square meters for shophouses, and 450 to 1,199 sqm for boutique hotels.

Both Mercato Shophouse District and Porto Hotel District are interconnected to each other, providing convenient walkability through expansive sidewalks and bridges.

“Our eco-tourism township offers businesses and entrepreneurs such as hotel owners, restaurateurs, coffee shop and bar operators, and retail shop owners to own land in San Vicente, particularly inside our master-planned beachside development,” said JR Abusta, head of sales and marketing at Megaworld Palawan.

Abusta said the district would have close access to the coastline of Long Beach Area of San Vicente, which has been designated as a Tourism Enterprise Zone (TEZ) of the Tourism Infrastructure and
Enterprise Zone Authority (TIEZA).

TIEZA’s Tourism Enterprise Zones have special incentives for tourism-related businesses such as tax holidays.

Among the first developments in the area include medical and wellness facilities, church, and other leisure and institutional amenities.

“We will definitely have unique residential and recreational offerings inside Paragua Coastown as well. What we are building here will hopefully help San Vicente become the most popular eco-
tourism spot in Palawan and the entire country. But of course, we give utmost importance to sustainable real estate because this is what everyone will be looking for when they decide to invest in Palawan,” said Abustan.

SOURCE: Bilyonaryo

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