ILOILO City – This city is moving to institutionalize a pay parking policy for the rooftop parking areas of the Iloilo Terminal Market and the Iloilo Central Market, a move expected to generate additional income for the city government under its public-private partnership (PPP) deal with SM Prime Holdings, Inc.
The proposed ordinance, now referred to the Sangguniang Panlungsod committees on Ways and Means and Markets, provides that the rooftop parking spaces of both markets will be operated and managed by SM Prime Holdings, Inc., with revenues shared equally between the private partner and the Iloilo City Government.
“The Contract Management Committee (CMC), a body established pursuant to the PPP Contract entered into by the ICG and SMPHI, agreed that the rooftop parking spaces of both markets shall be operated and managed by the private partner, with 50/50 sharing of income with the ICG less necessary administrative expenses,” the ordinance reads.
The measure anchors its legal basis on Republic Act No. 7160, or the Local Government Code of 1991, which encourages private sector participation in local governance and authorizes local government units to establish and operate public markets and other enterprises.
“The participation of the private sector in local governance, particularly in the delivery of basic services, shall be encouraged to ensure viability of local autonomy as an alternative strategy for sustainable development,” the ordinance further states, citing the Code.
City officials said the measure forms part of the 2022 PPP contract between the Iloilo City Government and SM Prime for the redevelopment of the two major public markets.
The newly rebuilt facilities, which held their grand opening on Oct. 30, 2025, feature rooftop parking spaces designed to serve market vendors, buyers and mall-goers.
“Among other structural designs, the newly constructed Iloilo City Terminal Public Market and Central Public Market provided rooftop parking spaces for our market and mall goers,” the ordinance further states.
The proposed measure formalizes the collection of parking fees in these areas, although specific rates have yet to be indicated and are expected to be determined in the implementing rules and regulations (IRR).
Section 8 of the ordinance provides: “The implementing rules and regulations shall be prepared by the OMC within fifteen (15) days after the approval of this Ordinance, subject to the approval and adoption of the Sangguniang Panlungsod.”
The ordinance also includes standard separability and repealing clauses and states that it will take effect upon approval by the City Mayor and after due publication.
Once enacted, the pay parking policy is expected to generate additional revenue for the city government while ensuring a regulated parking system in the newly redeveloped market complexes./PN
