The development will feature a 1.4-kilometer beach line that includes part of the sand dunes in Ilocos Norte, which is also the home province of President Marcos.
Located near Fort Ilocandia Hotel, it is about 15 minutes from Laoag International Airport.
Megaworld will also build luxury residential areas, a shophouse district, and a commercial center.
Big picture
Provinces typically experience significant growth and development when they are the home region of a sitting president.
Megaworld, part of the family conglomerate led by tycoon Kevin Tan, aims to capitalize on the region’s growth by tapping its township expertise.
This will also be the 34th township project of the company, which developed Eastwood City and Uptown Bonifacio.
Management’s view
“This is a wonderful start for our group’s investment in the Ilocos Region, particularly in the capital city of Laoag. We see a lot of opportunities in this part of the country, especially in tourism, and we hope to unlock these opportunities through this development,” Tan, who is the president and CEO of Megaworld parent firm Alliance Global Group, said in a statement on Monday.
Kevin Tan was recently named executive director of Megaworld, which is led by Lourdes T. Gutierrez-Alfonso.
Megaworld expands provincial footprint
“We are already present in Central and Western Visayas, the two fastest growing regions in the country when it comes to local economy,” said Gutierrez-Alfonso.
“Now it’s time to be in Ilocos to complete our presence in the three fastest growing regions in the country today. We are very excited to showcase our signature township lifestyle in Ilocandia,” she added.
