3 weeks ago
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ILOILO City Mayor Jerry Treñas has announced a two-year deferment for the increase in market rental, allowing vendors to fully settle into their respective markets before any adjustments take effect.
In a statement on Wednesday, Treñas said the moratorium will take effect from 2025 to 2026, after the completion of the market rehabilitation.
"We are targeting the inauguration of the Central and Terminal Markets this year, followed by the Arevalo, La Paz, and Jaro public markets," he said.
The Central and Terminal Markets are renovated under a public-private partnership with SM Prime Holdings Inc., which was awarded a 25-year lease agreement for the project.
Meanwhile, the three district public markets' rehabilitation is funded through a city government loan from the Development Bank of the Philippines.
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Treñas said Phase 1 of the Arevalo Market is already complete, while that of the La Paz and Jaro Markets is targeted for April 2025. Phase 2 construction of all markets is expected to start by the second quarter of this year, and the completion by the end of 2025.
The markets will also feature passenger elevators, according to the city mayor.
To complement the market redevelopment, the Uswag Negosyo Academy has trained 139 vendors from Central and Terminal Markets since 2023.
An additional 188 vendors from other city district markets have also received training in business operations, customer satisfaction, and financial literacy.
Each participant completing six training sessions will receive P5,000 in capital support to help expand their business and contribute to the city's economic growth.
