MEGAWORLD Corp. expects P3 billion in sales from a residential condo project in Puerto Princesa, Palawan set for completion by 2030.
The company is building the 12-storey The Bellagio Palawan inside the six-hectare Baytown Palawan township, Megaworld said in a regulatory filing on Tuesday.
The Bellagio Palawan will have 188 units equipped with balconies and lanais. It is the first upscale residential condo within the township. Unit sizes reach up to 109 square meters for the three-bedroom suites.
“The Bellagio Palawan will serve as the gateway to Baytown Palawan. Once completed, it will become a vibrant lifestyle estate that will mirror the excitement that characterized Forbes Town in BGC through the years. We envision Baytown to be the ‘new lifestyle capital’ of Puerto Princesa,†Megaworld Palawan Vice-President of Sales and Marketing Javier Romeo K. Abustan said.
The tower’s second floor will have coworking spaces, a function hall, fitness center with a yoga studio, outdoor lounge and seating areas, kiddie play area, and a daycare center.
In terms of sustainability features, the Bellagio Palawan will have bicycle parking, low flow rate fixtures for water conservation in toilets and kitchen, occupancy sensors in hallways, and energy-efficient equipment, according to the company.
It will also have its own sewage treatment plant, rainwater harvesting facility, and materials recovery facility.
The Baytown Palawan township is being developed by Megaworld and Suntrust Properties, Inc.
The township’s other planned projects include more residential condominium developments, hotels, and commercial retail developments.
Megaworld is also developing the 462-hectare Paragua Coastown ecotourism township in San Vicente, Palawan, which features residential condominium projects, commercial retail developments, and hotels.
On Tuesday, Megaworld shares dropped by 0.43% or one centavo to P2.34 per share. — Revin Mikhael D. Ochave
