Iloilo City’s two flagship public markets – the historic Central (Tienda Mayor) and the Terminal (Super) – are slated to reopen on 30 October 2025 after a multi‑year public‑private partnership (PPP) overhaul with SM Prime Holdings. Mayor Raisa Treñas announced the final preparations on Monday, emphasizing that stall rental fees will remain unchanged and that all legitimate vendors will retain their spaces through a transparent adjudication process led by the city’s Market Committee and the Local Economic Enterprise Office (LEEO) 【manilatimes.com】.
Background of the redevelopment
The redevelopment, first conceived in 2019 under then‑Mayor Jerry Treñas, aims to modernise the markets’ infrastructure, improve sanitation, and bolster Iloilo’s reputation as a “food tourism” hub. Under the agreement, SM Prime Holdings will manage the leased sections of the sites while the city retains overall regulatory control. Demolition of temporary stalls began in early 2025, prompting concerns from vendors who said they were given short notice and limited alternative selling spaces. The “Limpyo Merkado” program, institutionalised by Executive Order 77, will make market‑cleaning a regular activity once operations resume.
Economic stakes and tourism potential
According to a Panay News feature, the upgraded markets are expected to serve as key drivers of tourism and local economic activity from 2026 onward, complementing Iloilo’s broader urban revitalisation plan that includes plaza upgrades and new pedestrian zones slated for the following year. The city’s tourism board projects a 12 percent rise in visitor spending linked to market‑related activities, echoing the Philippines’ national goal of raising renewable‑energy‑driven tourism while diversifying income sources beyond the traditional agribusiness sector.
Industry analysts note that the PPP aligns with the government’s “Build, Build, Build” agenda, which encourages private‑sector participation in public‑infrastructure projects. The Department of Trade and Industry (DTI) has highlighted that modernised markets can increase vendor productivity by up to 20 percent, based on pilot studies in other regional hubs (Reuters). For Iloilo, where the informal sector accounts for roughly 35 percent of total employment, such gains could translate into significant livelihood improvements.
Vendor concerns and parallels with other market reforms
Vendors have voiced apprehension that the partnership could lead to “mallification,” a fear echoed by traders in Baguio City who protested a similar modernisation plan that would embed a mall component within their historic market 【gmanetwork.com】. In Iloilo, the city pledged that the project will remain “exclusively managed and operated by the city,” and revenues will flow to municipal coffers rather than private investors. Nonetheless, local trader groups are monitoring the implementation closely, particularly the leasing clauses that could affect rental rates after the 50‑year contract expires.
Stakeholder groups have also raised concerns about the broader governance environment. Recent investigations by CNN revealed that billions earmarked for flood‑control projects were misappropriated, undermining public confidence in large‑scale infrastructure spending 【cnn.com】. While the market redevelopment is not directly linked to flood‑control funding, the episode underscores the importance of transparent oversight in all PPPs, especially those that impact vulnerable communities.
Implementation timeline and next steps
The reopening ceremony on 30 October will feature a ribbon‑cutting by Mayor Treñas and a showcase of the upgraded facilities, including improved ventilation, fire‑safety systems, and digital payment kiosks. A temporary relocation site—a former slaughterhouse—has been prepared for vendors whose stalls are still under renovation, with assurances that business disruption will be minimised.
Following the launch, the city will conduct a six‑month monitoring period to assess vendor satisfaction, price stability of goods, and foot traffic. The LE EO will publish quarterly reports, and any rent adjustments beyond the current rates will require approval from the city council, as mandated by the original executive order.
Wider implications for Philippine market reforms
Iloilo’s market upgrades could set a precedent for other regional centers seeking to modernise public spaces while safeguarding vendor livelihoods. If the partnership delivers on its promises—enhanced sanitation, stable rents, and increased tourism revenue—it may encourage similar PPP models in provinces such as Cebu and Davao, where market infrastructure remains outdated.
Conversely, any missteps could amplify public scepticism, particularly in light of recent protests over privatization in Baguio and the flood‑control scandal. As the Philippines pushes toward its renewable‑energy targets and strives to improve governance, the success of projects like Iloilo’s markets will be closely watched by both investors and community advocates.
