Megaworld bankrolls N. Luzon foray with P15B

Andrew Tan-led property developer Megaworld Corp. is investing P15 billion in its first major development in Northern Luzon.

The company announced plans to transform 84 hectares along the western coastline of Laoag City, Ilocos Norte, into a premium mixed-use beachfront township over the next decade.

“We are already present in Central and Western Visayas, the two fastest-growing regions in the country when it comes to the local economy,” Megaworld president Lourdes Gutierrez-Alfonso said.

“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.

Time for Ilocos region

The development, to be called Ilocandia Coastown, will be Megaworld’s 34th township and its first in Northern Luzon. It will feature upscale residential properties, a shophouse and commercial district, and a town center that will serve as the focal point of the community.

Inspired by Filipino and Spanish heritage designs, Ilocandia Coastown will include a 1.4-kilometer beachfront and the iconic sand dunes Ilocos Norte is known for. Its strategic location puts it next to the historic Fort Ilocandia Hotel and is just 15 minutes from Laoag International Airport, with Paoay Church less than 30 minutes away.

A study by the Philippine Statistics Authority in April confirmed that the Ilocos region is the third fastest-growing economy in the Philippines, trailing only Central and Western Visayas.

Laoag City was also named one of the 25 cities selected by the Department of Information and Communications Technology for the Digital Cities 2025 program, underscoring its potential as a key business hub.

This project follows Megaworld’s recent announcement of the San Benito Private Estate in Lipa, Batangas, a P12-billion investment over the next 10 years.

The estate will be a low-density wellness community featuring residential lots, low-rise condominiums, an international hotel, and nature-oriented amenities like a sports and leisure hub, community gardens, and nature trails.