ILOILO City – This city’s P3-billion public-private partnership with SM Prime Holdings is nearing its most anticipated milestone. The newly redeveloped Iloilo Central Market and Iloilo Terminal Market are set to open on October 30 — a landmark event in the city’s bid to modernize all its public markets before the year ends.
The city government’s Local Economic Enterprise Office (LEEO) head Maricel Mabaquio said construction works are on schedule and that the city government is now gearing up for the full operation of all major public markets.
“Before we close 2025, all city markets — including Jaro Big Market, La Paz, and Arevalo Public Market — are expected to be fully operational,” Mabaquio said.
She noted that clearing and demolition works continue around the Iloilo Terminal Market to ensure a clean, organized frontage in time for the opening.
The adjudication process for stall allocation is also underway, with over 1,000 vendors processed for each of the two – Central and Terminal – markets.
Mabaquio assured market vendors that the city government is keeping stalls affordable.
“There will be no increase in stall rental rates until next year,” she said, noting that rentals range from P300 to P3,000 per month depending on size and location — a move consistent with Mayor Raisa Treñas’ commitment to keeping market spaces accessible to small traders.
The twin markets — redeveloped under a public-private partnership (PPP) scheme with SM Prime Holdings — represent one of the city’s largest modernization projects.
Their modern architectural designs, first unveiled in May 2023, are envisioned to turn the city’s traditional palengkes into vibrant economic hubs, combining heritage and innovation.
Once operational, the new Central and Terminal markets are expected to revitalize local commerce, improve trading conditions, and symbolize Iloilo’s urban transformation — cementing the city’s position as Western Visayas’ model for public market redevelopment.
The redevelopment of the two popular markets aims to provide the city with a sustainable multi-use market complex that will foster and enhance business activities while preserving the economic value of the Old Central Business District (Calle Real) of Iloilo City.
The Iloilo Central Market – also called “Tienda Mayor” – will capture Iloilo’s heritage and progress as a vibrant marketplace, offering a diverse range of local products and experiences for both residents and tourists. It will also support MSME (micro, small and medium enterprises) growth by providing excellent amenities, creating a thriving hub for vendors and the community.
On the other hand, the Iloilo Terminal Market – popularly known as “Super” – is where most of the produce from other parts of Panay Island is traded, both wholesale and retail.
The groundbreaking for the Central and Terminal markets was held on September 18, 2023.
Iloilo City is embracing a global trend by transforming its public markets into vibrant cultural and tourism hubs, following the footsteps of iconic international markets that blend commerce with culture.
The Central and Terminal markets are being reimagined not just as centers of trade, but as immersive destinations for visitors to experience the flavors, rhythm, and heritage of Ilonggo life.
A key inspiration is Barcelona’s Mercato de la Boqueria, one of the world’s most famous markets. Originally an open-air street market for goat meat and pigs in the 13th century, Boqueria became a formal market in 1840 and has since undergone continuous upgrades. Its now-iconic metal roof, added in 1914, and its art-nouveau entrance on La Rambla have made it an architectural and cultural landmark.
Today, Boqueria Market attracts over 44,000 visitors daily, offering everything from fresh produce and meats to artisanal snacks and prepared meals—making it a must-see destination in Barcelona./PN
