SM, Iloilo LGU team up to redevelop city’s public markets 2
“SM has long been a part of Iloilo City, and it is now time for us to give back to the city,” said SM Supermalls President Steven Tan. Photo by Arnold Almacen, Iloilo City Mayor's Office/File
Culture

SM to invest up to P2.5-B to redevelop two of Iloilo City’s public markets in collab with LGU

The MSMEs and vendors would be selling more, said SM’s Steven Tan, “as the markets will be a convergence zone for the growth of micro, small and medium businesses.”
PARTNER FEATURE | Aug 08 2022

In line with the government’s thrust to transform the Philippines through PPPs and collaborations between LGUs and the private sector, Iloilo City Mayor Jerry Treñas recently signed the lease agreement with SM Prime Holdings, Inc. for the redevelopment of the Central and Terminal Markets in Iloilo. SM says it is investing P1.5B to P2.5B in the project. 

Iloilo Market
Top row (left to right): Iloilo Vice Mayor Jeffrey Ganzon, Iloilo Mayor Jerry Treñas, SM Prime President Jeffrey Lim, SM Supermalls President Steven Tan, and SM Supermalls Senior Vice President Bien Mateo. Bottom row (left to right): Iloilo Central Market officers Danilo Lemos, Sonia Lim, Marites Poja, Analiza Catedrilla, Josefino Barroca, Boy Adorio, Benjie Beniegas, and Elnora Mendoza Lava.
Iloilo Market
Top row (left to right): Iloilo Vice Mayor Jeffrey Ganzon, Iloilo Mayor Jerry Treñas, SM Prime President Jeffrey Lim, SM Supermalls President Steven Tan, and SM Supermalls Senior Vice President Bien Mateo. Bottom row (left to right): Iloilo Terminal Market officers Emily Terol, Lelibeth Villaran, Linda Roque, Ma. Paz Eclarinal, Rosario Camarista, Marjorie Dumalag, Johna Reyes, Valentina Estember, and Philip Lim.

“Wherever we can, we do markets for Micro, Small and Medium enterprises (MSMEs) and small vendors in the same city where we have SM malls”, said SM Supermalls President Steven Tan in an interview on the partnership. “SM has long been a part of Iloilo City, and it is now time for us to give back to the city.” 

Tan said SM has partnered in the past with LGUs for such projects as the Marketmall in Dasmariñas, Cavite, which transformed the public market into a spacious, safe, clean and more complete marketplace where both MSMEs and national brands are thriving. 

“As a home for small businesses, the vendors of the public markets have a place where they can grow, as the synergy between the established SM brand and those who are starting out has always been good for the customers, the businesses and the city,” said Tan. 

The modern markets will have retail spaces and ample parking, and will bring in not only more local customers, but hopefully will spur tourism as it will be a showcase of the best the city has to offer in terms of local products and well-loved Ilonggo food specialties. 

“The MSMEs and vendors would definitely be selling more as it will be a convergence zone for the growth of micro, small and medium businesses.” added Tan. 

Mayor Treñas clarified that the management of the markets would remain with the city government through the Local Economic Enterprise Office. 

“The city government will operate the markets. It will continue to deal with the vendors.” Treñas further told Iloilo’s vendors that their suggestions during the consultations would be considered. Mayor Treñas cited that this is one of the many redevelopment projects ongoing and planned for the city.