Siargao launches first condo township worth P2 billion

CEBU, Philippines — Siargao, the country’s surfing capital, is set to enter a new phase of property development as homegrown developer Wellbuild Development Corp. unveiled plans for a P2-billion mixed-use resort township that will introduce the island’s first condominium residences, signaling growing investor confidence that the tourism hotspot is evolving into an international lifestyle destination comparable to Hawaii and Bali.

The project, dubbed Palmyra Siargao, will rise on an eight-hectare property in the municipality of Del Carmen, home to Siargao Airport, combining low-rise residential buildings, a destination resort, retail and dining spaces, and sustainability-driven infrastructure within what the company describes as a nature-positive master-planned community.

The development marks the island’s first condominium residential offering, reflecting the gradual maturation of Siargao’s real estate market as tourism continues to expand beyond surf travelers toward longer-stay residents, retirees, investors, and digital professionals or Digital Nomads.

Phase one will cover 1.79 hectares and is scheduled for completion within four years. Commercial facilities are expected to begin construction next month, while site development and road works are already underway.

“We are introducing a different kind of development for Siargao—one that respects the island while creating long-term economic opportunities,” said Lynie Espiel Bereso, Wellbuild Development Corporation chairperson and chief executive officer (CEO) in a press conference, during the project’s grand launching held at Nustar Resort Cebu.

The township will offer around 250 residential units, including 164 studio units measuring approximately 35 square meters, one-bedroom units averaging 60 square meters, and two-bedroom residences ranging from 80 to 90 square meters. Buildings will be limited to three storeys, avoiding the high-rise profile common in other island resort destinations.

The master plan also includes a lifestyle commercial district, an island food village, resort facilities, landscaped open spaces, and green infrastructure designed to reduce environmental impact.

Project architect Emilie Pepito Powers said only a fraction of the property’s total land area will initially be developed, allowing much of the site to remain preserved.

The township will incorporate an independent septage treatment facility, rainwater harvesting systems capable of storing up to 37 cubic meters of water, reverse osmosis (RO) technology for irrigation, and a materials recovery facility as part of its sustainability strategy.

Sustainability first

For Del Carmen Mayor Alfredo Coro II, investor interest in Siargao comes with a clear condition.

The municipality backed the project only after requiring its developers to align with Del Carmen’s long-term vision of sustainable and nature-positive growth.

“We know where we want to go,” Coro said, noting that large-scale investments must complement—not compromise—the island’s environmental policies, local culture, and community aspirations.

The Mayor described Palmyra as an example of how private capital can coexist with environmental stewardship, adding that conservation has become one of Del Carmen’s strongest economic assets.

The municipality has spent more than a decade rehabilitating its mangrove forests, transforming an area once affected by illegal logging and destructive fishing into an internationally recognized conservation site.

The mangrove ecosystem was designated a Wetland of International Importance in 2024 and later proved critical in protecting coastal communities during Super Typhoon Odette.

“This project reflects not only where Del Carmen and Siargao are headed, but where we hope the Philippines is headed,” Coro said, referring to Siargao’s recognition as one of the country’s emerging green economic models.

Tourism investment gains momentum

The Department of Tourism-Caraga welcomed the investment, saying responsible private-sector participation will support employment generation while strengthening the local economy.

“We welcome responsible tourism investments like Palmyra Siargao. It will create jobs, stimulate the local economy and contribute to community development,” said Regional Director Ivonnie B. Dumadag.

She added that because Siargao is a protected island ecosystem, developments are expected to comply with environmental regulations and sustainability standards.

From fishing island to investment destination

The township arrives as Siargao continues its transformation from a largely fishing-and-farming economy into one of the Philippines’ fastest-growing tourism markets.

Coro recalled that when he assumed office in 2010, many communities depended almost entirely on fishing and agriculture, leaving households vulnerable to typhoons and unstable incomes.

The municipality responded by investing heavily in ecotourism, environmental conservation, transport infrastructure, digital connectivity and governance, helping position Siargao among Asia’s emerging island destinations before the pandemic temporarily halted visitor arrivals.

Since 2022, tourism has rebounded, supported by improved roads, expanded fiber connectivity, upgraded power infrastructure and continuing investments in water systems.

Del Carmen, which hosts Siargao Airport, has become a strategic gateway for new tourism and property investments.

Government agencies are likewise preparing upgrades to the airport, including expanding passenger capacity from 200 to 700 travelers, introducing night-flight capability, improving refueling facilities and studying runway expansion while protecting nearby mangrove forests.

New phase for Siargao real estate

The Palmyra development represents more than another tourism investment—it signals the emergence of a formal residential property market in Siargao.

Unlike earlier resort projects primarily targeting short-term visitors, the township combines residential ownership, commercial activity and hospitality, creating a mixed-use community designed for both residents and tourists.

Construction is expected to generate approximately 500 jobs, with priority given to workers from Del Carmen, while the completed township is projected to support employment across tourism, retail, hospitality and property management.

For local officials, the project’s significance extends beyond its P2-billion price tag.

As Siargao attracts increasing investor attention, Del Carmen is positioning itself as a model for balancing economic growth with environmental protection—an approach officials believe will determine whether the island can sustain its rise as one of Southeast Asia’s premier tourism destinations.