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Megaworld enters Ilocandia with P15 B Laoag township
By J.Lo
“We are already present in Central and Western Visayas, two fastest growing regions when it comes to local economy, and now it is time to be in Ilocos to complete our presence in three fastest growing regions in the country today,” Megaworld president Lourdes Gutierrez-Alfonso said property developer Megaworld Corp. is bringing its residential expansion to north of Luzon by investing P15 billion to build township on coastline of Laoag City, Ilocos Norte.
Megaworld is putting up 84-hectare mixed-use, beachfront estate on western end of Laoag, to be called Ilocandia Coastown once completed in 10 years.
Aside from residential feature, Ilocandia Coastown will boast of its own 1.4 kilometer beach line, including area for sand dunes Laoag is famous for.
Likewise, township will stand close to five-star hotel Fort Ilocandia and is 15 minutes away from Laoag International Airport, main gateway to Ilocos Region. Also, property is less than hour’s drive from tourist spots in Ilocos Norte like Paoay Church.
Alfonso said developer decided to expand in Laoag to take advantage of its economic spurt. Based on data from Philippine Statistics Authority, Ilocos Region where Laoag is located was third fastest growing region in 2023.
Central Visayas registered quickest growth of 7.3 percent, followed by Western Visayas’ 7.2 percent. Megaworld is already present in these regions.
Moreover, Laoag is listed as part of Digital Cities 2025 under Department of Information and Communications Technology, identifies prospective areas ripe for information technology and business process management investments.
Based on final design, Ilocandia Coastown will feature upscale units, shop house district and commercial district, with town center in the middle that would serve as its focal point. It will draw inspiration from Filipino and Spanish architecture for its general design.
Ilocandia Coastown will be Megaworld’s 34th township development. History is also made for the company, marking first time that Megaworld has set foot in Ilocos Region.
Megaworld’s parent Alliance Global Group Inc. believes expansion to Laoag would bring in business opportunities for the company, particularly in tourism.
For 2024, Megaworld has allocated P55 billion for its capital expenditures, to be spent on putting up new projects and completing existing developments.
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