Iloilo Central, Terminal markets up for public-private partnership

THE City Government of Iloilo, with support from the Public-Private Partnership (PPP) Center of the Philippines, is developing and will be launching the Iloilo City Central and Terminal Public Markets Project, the two proposed developments are referred to as the "Project."

Photo from the PPP site

A Call for Participants: Market Sounding Activity has been conducted from April 21 to 30, 2021 facilitated through an online form or one-on-one meeting with PPP Center.

The Project’s indicative investment cost ranges from P2.9 to 3.6 billion.

The Project involves design, finance and construction of mixed-use buildings, operation and maintenance of commercial spaces, and maintenance of the whole facility for 30 years, subject to finalization of business case.

A proposal posted online by Arch. Paulo Alcazaren

Potential revenue sources for the private sector proponent may include rental fees from public market and commercial spaces, cargo-handling charges, vehicular docking charges, warehousing/cold storage rental charges, bulk hauling and terminal fees, and parking fees.

The Project aims to redevelop the main markets and provide the city with a sustainable multi-use market complex that will boost business activities, as well as preserve the economic value of the Old Central Business District.

Text credit Sunstar Publications.

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ILOILO: HEART of the PHILIPPINES

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