By Vincent P. Grecia
The much-awaited redevelopment of Iloilo City’s two biggest markets – the Iloilo Central Market and Iloilo Terminal Market – under a Public-Private Partnership (PPP) scheme with SM Prime Holdings has officially started.
The Iloilo City Government and SM Prime Holdings held separate groundbreaking ceremonies for the two projects on Monday, Sept. 18.
The event was led by Mayor Jerry Treñas and SM Supermalls VP for Operations Engr. Bien C. Mateo, together with Michelle Leslie K. Llanos, SM Supermalls Vice President for Mall Operations, Vice Mayor Jeffrey Ganzon, Iloilo City Councilors, Department Heads, business sector leaders, and other SM executives.
Treñas considered the event a “historic milestone” for the city “that signifies a powerful leap forward towards a world-class market experience right here in Iloilo.”
“Imagine a market that’s not just a place to shop, but a destination to experience, a place where residents and visitors alike can revel in a vibrant, diverse, and captivating environment. This market will be more than just a collection of stalls, it will be a hub of culture, community, and commerce,” Treñas said.
A press release from the city government said the new Central and Terminal markets will have retail spaces and ample parking for the convenience of the customers as well as generate additional customer traffic for the market vendors.
Other modern features and specifications of the new market facility will include a Building Management System, a computer-based control system that controls and monitors the building’s mechanical and electrical equipment; a fire detection and alarm system; and a computerized maintenance management system (CMMS), which tracks maintenance operations.
It will still be managed by the City Government through the Local Economic Enterprise Office (LEEO).
The total project cost for the two markets is around Php 3 billion at no cost to the city government. It is expected to be completed in December 2024.
Mateo said that SM considers Iloilo as their “partner for good”.
“We will not be your partner for long, we will be your partner for good,” he quipped.
LEEO head Maricel Mabaquiao assured the bonafide stall holders that they will be given their respective spaces back when the two markets are completed.
It was learned that around 3,000 market vendors were affected by the redevelopment of the two markets. They were transferred to temporary stalls built around the two markets.
