‘Major game-changer’: Biz group lauds redev’t of Iloilo City’s 2 public markets

A group of business operators is expecting the redevelopment of Iloilo City’s two biggest public markets to be a “major game-changer.”

The city government signed a 25-year lease agreement with Sy family-led property giant SM Prime Holdings Inc. (SMPH) for the rehabilitation of the Iloilo Central Market and Iloilo Terminal Market or “Super.”

“The [markets] are both historical and economic landmarks deserving of this long-overdue make-over,” Iloilo Business Club, Inc. (IBC) said in a statement.

“Once competed, these public markets with its modern, clean, and convenient look will spur the economic activity in the heart of Iloilo City which will pave the way for more business opportunities and investors in the area, thereby generating more livelihood and jobs for the Ilonggos.”

The projects, which are targeted for completion within two years, will be implemented under the Public-Private Partnership (PPP) scheme.

“We further commend the decision of the Iloilo City Government to go through the PPP route for this project as this affirms the role of the private sector as an important partner of the government in attaining progress and development,” IBC said.