MODERN MARKET. The redeveloped Iloilo Terminal Market during its soft opening on Thursday (Oct. 31,2025). The redevelopment of two public markets in Iloilo City was undertaken through a public-private partnership. (PNA photo by Perla Lena)
ILOILO CITY – Iloilo City opened its two public markets on Thursday afternoon after being redeveloped under a public-private partnership.
The redevelopment of the Iloilo Terminal Market and the Iloilo Central Market began on Sept. 18, 2023 under a partnership between the city government and SM Prime Holdings, Inc.
"Today, we have reasons to celebrate and give thanks to the Lord because one of our greatest dreams to have a beautiful, clean, and modernized public market has finally come true," Mayor Raisa Treñas said in her message during the soft opening.
She said the event is a milestone in the city's history -- a new beginning for vendors and shoppers who no longer have to suffer the stench and getting wet when it rains.
"Let me emphasize – our markets were not privatized. The city government will still manage and operate all the public markets. All legitimate vendors will return and be accommodated," she said.
"Through this partnership, not a single peso (from the city government) was spent for the redevelopment. Instead, our funds were used for the social services and program that directly benefit our people.”
From a single floor, both markets now have three floors to accommodate more vendors.
From 885 vendors, the terminal market can now accommodate 1,250; while the central market can cater to 850 vendors from the previous 603.
The monthly rental ranges from PHP441.94 for the wet section, and PHP3,989.79 in the peripherals.
The grand opening is slated next month, marking the completion of the SM side of the project.
Additional features and facilities will be unveiled, including the roof deck parking that can accommodate about 300 vehicles.
Meanwhile, vendors expressed their appreciation for the project, hoping to entice more customers with the spacious and comfortable facilities.
Liza Vigo, a vendor for five years at the terminal market, said at least they already have a stable place and no longer have to transfer from one place to another.
They also don’t have to worry about flooding or extreme heat, she said.
Jeremy Adorio said their family has been selling frozen goods at the central market for the past 30 years.
"Before, it was difficult because we have limited customers. We hope to have more buyers because our location is good," he said in an interview.
Ricarido Jaen, a fish vendor at the central market for a decade, is already excited to display his goods on Monday.
"It's clean, although the space is small," he said.
The soft opening on Thursday was also attended by Hans Sy Jr., president of SM Engineering Design and Development, local officials of Iloilo City, and vendors of the two public markets. (PNA)
