PROPERTY developer Megaworld Corp. is allocating an initial P7 billion for a township development in Puerto Princesa, Palawan, as it joins other companies expanding their investments in the city.
The investment will fund Baytown Palawan, a 5.4-hectare mixed-use development that will combine residential, commercial, dining and entertainment establishments over the next seven to 10 years, Megaworld First Vice President Harold Geronimo said.
“Our P7 billion is just the initial investment in Puerto Princesa,” he said, adding that the company intends to increase the capital outlay as the city develops into a business, tourism and cultural hub.
The development forms part of a broader pipeline of private sector investments presented during the 2026 Puerto Princesa City Investment Forum, which highlighted opportunities in tourism, infrastructure, fisheries, real estate and commercial development.
Among the proposed projects is a 15,000- to 20,000-seat convention and events center within the Sta. Lucia Environmental Estate, intended to expand the city’s capacity to host meetings, incentives, conferences and exhibitions.
Tourism Infrastructure and Enterprise Zone Authority representative Niño Aquino presented a master plan covering 63.31 hectares within the larger Sta. Lucia Tourism Enterprise Zone. The plan divides the area into nine districts and 245 lots for proposed hospitality, commercial, ecotourism and agri-tourism developments.
The plan identifies 10 proposed hotel sites, allocates 14.75 hectares for mangrove protection and scientific research, and includes a 1,000-square-meter convention hall under a 10-year phased development program.
“The next step is to move from a development vision to concrete projects,” Aquino said, underscoring the need for private sector participation.
The city’s proposed Puerto Princesa Integrated Fish Port (IFP), being pursued with the Philippine Fisheries Development Authority, is another potential investment area, particularly in ice production, cold storage, seafood processing, logistics and distribution.
Mayor Lucilo Bayron said the facility could support an entire seafood value chain rather than serve only as a landing site for fish.
“We see the IFP not merely as a place where fish is landed, but as a strategic platform for an entire seafood economy,” he said.
Other companies also outlined their existing and planned investments in the city.
DDTKI Group of Companies President Joseph Garcia cited the group’s developments, including Best Western Plus The Ivywall Hotel, The Miren Enclaves and Napsan Villas, as part of its expansion in Puerto Princesa.
Lucas Niccolo Cauton III, co-founder and CEO of boutique hospitality management group One-Of Collection, also discussed their hospitality investments, including The Funny Lion and Amorita Resort, pointing to opportunities to encourage tourists to stay longer in the city rather than merely using it primarily as a transit point to other destinations.
Meanwhile, Philippine Institute for Development Studies senior research fellow John Paolo R. Rivera said Puerto Princesa’s economy expanded by 5.4 percent in 2025, exceeding the national growth rate of 4.4 percent, based on Philippine Statistics Authority data.
He said sustaining economic growth would require investments in infrastructure, technology, connectivity and workforce development.
“For emerging growth centers, attracting investment is not simply about increasing the number of projects. It is about encouraging investments that generate employment, support local suppliers, and enhance productivity,” Rivera said.
Board of Investments representative Hannah Jamaign Barroquillo said the agency could assist investors through its Investment Facilitation Network, which brings together 38 national government agencies to streamline permitting, and its Green Lane for Strategic Investments.
As of Sept. 30, 2026, the BOI had endorsed 247 Green Lane projects representing more than P6 trillion in total investments, she said.
Megaworld shares on Friday dropped P0.04, or 1.75 percent, to close at P2.25 each.