Developers make Puerto Princesa their next ‘home kingdom’
THEIR NEXT ‘HOME KINGDOM’
Atrip to this coastal city may take one in what could be a gripping, exhilarating adventure of a lifetime. Puerto Princesa City, the famed capital of Palawan, offers a glimpse of nature’s best—from the striking limestone caves and underground river at the Puerto Princesa Subterranean River National Park, to the clear blue waters of Honda Bay, the nearby Ugong River, Starfish Island, Cowrie Island, Pandan Island, and Luli Island, all teeming with a rich and diverse marine life.
Add to that the different gastronomic treats in the city, including crocodile sisig and tamilok. And for the Catholics, a visit to the 19th-century Immaculate Concepcion Cathedral is deemed a must.
Of course, Puerto Princesa also serves as a jump off point to other breathtaking marvels—the stunning islands of Coron, Miniloc, and El Nido, to name a few, all dubbed as a tropical paradise made famous by their fine white sand beaches, pristine coasts, and clear waters.
Palawan, after all, will not be declared as the world’s most beautiful island for nothing.
Investment destination
More recently, however, Puerto Princesa City is no longer just a haven for tourists. It is gearing to become an investment destination as more firms are starting to take notice of the potential opportunities that the city has to offer.
In an interview at the Palawan capital earlier this week, Puerto Princesa City Mayor Luis Marcaida III noted the growing vibrancy of economic activities in their locale.
“The economy of Puerto Princesa is vibrant. Our main industries are agriculture and tourism. Palawan is a long, narrow island with many mountains and plateaus suitable for agriculture. Palawan is also surrounded by pristine oceans and these have become havens for tourism,” Marcaida explained.
“But right now, we have entertained so many other businesses aside from agriculture and tourism. For instance, we now have here in Puerto Princesa Sitel Philippines, one of the biggest call center agencies in the country. We also have a number of malls coming in and these businesses are opening up employment opportunities for residents and graduates from Puerto Princesa,” he added.
The city, however, is not yet ready for heavy industries such as manufacturing. Proposals for light industries can meanwhile be evaluated for as long as they are not “destructive” to the environment, nor are they “extractive” in nature, Marcaida said.
Notable increase
Marcaida took note of the increasing presence of many national developers in Puerto Princesa City such as Sta. Lucia Land Inc.
“There is a market here now for real estate developers because in the last several years, we have seen a growing number of families and individuals who are well off and can now afford buying houses from these companies. There are also those who are originally based in Manila but have decided to make Puerto Princesa their home and they are looking to live in safe places such as in these subdivisions,” Marcaida said. “Puerto Princesa, in fact, is ripe for real estate investments, and ready for the influx of migrating residents and we, at the local government is helping make it easier for companies to do business here,” he added. According to Marcaida, they are also ramping up spending for infrastructure—from the road networks and telecommunications, to the water and power supply—to ensure that the city can accommodate the influx of businesses and migrants. They likewise continue to ensure the peace and order situation in the city, where crime rates are among the lowest in the country, he further said. “Admittedly, there is now traffic building up in certain parts of the city, but we are already addressing that as we beef up our public infrastructure,” Marcaida claimed.
Marcaida, however, appealed to the real estate developers to work closely with the local government officials to ensure the interconnectivity of the roads to and from their respective developments, and of course, make their projects more affordable for the residents of Puerto Princesa City.
“We have a lot of areas for development, particularly just those in the outskirts of the city. There is enough land to be developed for the benefit of Puerto Princesa,” Marcaida said.
Market potential
One of the companies that saw the growing market potential in Puerto Princesa was Sta. Lucia Land Inc. (SLLI).
John Eric D. Escanillas, VP for national sales and marketing at Sta. Lucia Marketing, explained that they decided to enter this market to further expand their footprint.
“SLLI launched its first project, Green Peak Heights, in 2015. We’ve already developed several properties in other provinces like Davao and Bacolod, to name a few and we realized that we do not have a presence yet in Palawan. We saw that there was a good market that’s why we decided to develop projects here,” Escanillas said in a recent interview.
The first project, he disclosed, has been highly successful, notably because of its strategic location as it was overlooking the Honda Bay. That had set the difference compared to the other existing developers in the area.
And in just two years, SLLI has lined up four more projects, including two Nottingham Villas, the Marbella, and the Catalina Lake Residences.
“SLLI saw a good reception among residents in Puerto Princesa primarily because we offer residential lots. This meant that buyers have the option to create their own houses, their own dream homes that they planned and designed,” Escanillas further explained.
“We also have a diverse offering here in Puerto Princesa because we don’t only have residential subdivisions. We also came up with townhouses and a lake community that will have the Sotogrande condotel. Given this diverse offering, we are highly positive that we will capture a fair share of the market in Puerto Princesa,” Escanillas concluded.