ILOILO CITY — The redevelopment of the Iloilo Central and Terminal markets is being hailed as a showcase of the city’s strong public–private partnership (PPP) model, with the Iloilo City Government retaining full ownership and management while tapping SM Prime Holdings, Inc. as a development partner.
Atty. David Abraham Garcia, head of the City’s PPP Office, emphasized that the markets remain public assets under the stewardship of the Iloilo City Government. SM Prime’s role is to finance, design, and construct modern, climate-resilient facilities—allowing the City to push through with long-overdue upgrades without passing the full cost burden to taxpayers.
“Let’s be absolutely clear: our markets are not owned by SM. They are public markets and will remain under the City Government,” Garcia said. “Through this PPP, we can give vendors and market-goers facilities that are safer, cleaner, and better organized, while keeping the markets’ public character intact.”
Under the agreement, the City retains full authority over stall allocation, vendor accreditation, and collection of market fees in accordance with existing ordinances. SM Prime’s involvement includes delivering infrastructure improvements and providing specified support services under the PPP contract.
City Hall stressed that legitimate existing vendors are prioritized in stall allocation, and that market fees remain governed by city policy and subject to public accountability.
Beyond infrastructure, the project benefits market vendors through livelihood and skills training under the Uswag Negosyo Academy (UNA), in partnership with the BDO Foundation and other public and private partners.
The redevelopment introduces more orderly circulation, improved sanitation and waste management systems, enhanced fire safety features, and upgraded spaces for fresh produce, dry goods, and small food enterprises, upgrades the City says were long overdue for two of its most vital public marketplaces.
The redevelopment of the city’s two largest markets is among the many contributions of SM to Iloilo’s sustained growth and development.
Prominent business groups and stakeholders have also expressed strong support for this initiative.
The Iloilo Economic Development Foundation (ILED) lauded the initiative as a driver of economic growth, improved commercial infrastructure, and enhanced competitiveness—citing Iloilo’s rise from rank 27 in 2015 to rank 5 in 2023 in the National Competitiveness Index.
ILED leaders highlighted the markets’ cultural and gastronomic significance, drawing parallels to successful redevelopments abroad that boosted tourism and jobs.
The Philippine Chamber of Commerce and Industry–Iloilo Chapter (PCCI-Iloilo) also praised the modernization for uplifting micro and small enterprises, improving sanitation, and enhancing customer experience, while the POPA Agriculture Cooperative underscored the integration with the Local Food Terminal to strengthen farm-to-market links and food security.
Tourism and hospitality players likewise welcomed the project’s benefits. The Iloilo Hotels, Restaurants, and Resorts Association (IHRRA) emphasized the importance of the markets as key suppliers of fresh produce to hotels and restaurants, while the Iloilo Business Club (IBC) stressed the value of modernizing the facilities without losing their cultural essence.
These groups believe the redevelopment will result in more organized, accessible, and efficient marketplaces that celebrate Iloilo’s culinary heritage, strengthen local supply chains, and foster inclusive economic growth across sectors.
TINGOG SANG BANWA: Vendors Welcome Redeveloped Markets, Training Opportunities
For many market vendors, the ongoing redevelopment of the Iloilo Central and Terminal Markets is a fresh start for them.
Gina Franco, 44, who runs a karinderya at the Iloilo Terminal Market, said the Uswag Negosyo Academy has equipped her with new skills to better serve her customers.
“Damu kami na-learn sa pag-training… mas maserbisyuhan namon sang maayo ang amon mga customer. Nagapasalamat man kami kay nag-improve na ang market. Maaliwalas na ang pagpamalaklon. Excited naman kami nga makabalik kon mag-reopen na ang market para mas komportable na gid kami sa amon pwesto kag mag-nami pa gid ang amon income (We learned a lot from the training, which will help us serve our customers better. We are also thankful that the market has improved. Shopping is now more pleasant. We are excited to return once the market reopens so we can be more comfortable in our stall and further improve our income),” she shared.
For pilit, calamay, and lubi vendor Valentina Estember, 57, the redevelopment feels like a once-in-a-generation change.
preparation for the reopening of the modernized facilities, equipping them to upgrade their skills, adapt to new systems, and further improve their businesses. Photo credit: Local Economic Development and Investment (LEDIP) Office.
“Kapila na ako mag gwa-sulod sa Super, siguro amo na gid ni ang time nga pinakanami na. Ga-look forward kami nga wala na sang baha kag baho sa sulod sang merkado. Kag bilang isa sa trainee sa Uswag Negosyo Academy, makabulig gid ini sa amon bangod makatuon kami kon paano pa gid ma-improve ang amon pag-negosyo. (I’ve been in and out of the Super several times, and I think this is the best it has ever been. We look forward to a market free from flooding and foul odor. And as one of the trainees of the Uswag Negosyo Academy, this will truly help us because we are learning how to further improve our business.),” she said.
At the Iloilo Central Market, fruit and vegetable vendor Rhodora Cordero-Palabrica said the changes will make the marketplace more welcoming and safe.
“Excited na kami, nami na gid ang merkado ta, indi na tulo-tulo pareho sang una. Malipay gid kami kay damu na mga tawo masulod kon matinlo na. Nagapasalamat gid kami kay Mayor Treñas kag sa SM sa pagpakay-o sang aton merkado. Mas nami pa gid kay may training pa kami paagi sa Uswag Negosyo Academy, mas ma-improve pa gid ang amon knowledge sa pagnegosyo. (We’re excited because our market is now so much better—no more leaks like before. We’ll be happy to see more people coming in once it’s clean. We are truly thankful to Mayor Treñas and SM for rehabilitating our market. It’s even better because we also have training through the Uswag Negosyo Academy, which will further improve our knowledge in running a business),” she said.
These voices from the ground show that the landmark public–private partnership between the Iloilo City Government and SM Prime Holdings, Inc. is not only modernizing public infrastructure but also building stronger, more sustainable livelihoods for the people who depend on these markets every day.
