THE local government of Iloilo has hailed the ongoing redevelopment of major public markets in Iloilo City as a key driver of local economic growth, citing their impact on small businesses and the broader community.
In a recent Facebook post, Iloilo Governor Arthur Defensor, Jr. expressed admiration for the transformation of key trading hubs, particularly the Iloilo Central Market and Iloilo Terminal Market, as well as other markets in Jaro and La Paz districts.
“As I go around Iloilo City, I am truly amazed by the remarkable transformation,” the governor said, noting that the redevelopment has helped empower small and medium enterprises and homegrown brands.
Defensor said the improvements have strengthened the local economy by creating new opportunities for vendors while enhancing the overall market experience for consumers. He added that the initiative has contributed to improving livelihoods and elevating the quality of public services in the city.
The governor also credited the leadership of former mayor Jerry Treñas and incumbent mayor Raisa Treñas for advancing the modernization of the city’s public markets, describing their efforts as instrumental in turning traditional marketplaces into more competitive and accessible commercial centers.
Central to the redevelopment is a public-private partnership with SM Prime Holdings, which Defensor described as a model for effective collaboration between government and the private sector.
Under a 25-year lease agreement, SM Prime invested approximately Php 1.5 billion and Php 2.5 billion to upgrade the Central and Terminal markets, respectively. The projects transformed the facilities into modern, cleaner, and more efficient trading environments designed to accommodate both long-time vendors and new enterprises.
The redeveloped markets now host around 2,000 stalls, offering improved infrastructure for merchants and a more organized, comfortable shopping environment for residents and visitors.
Operating hours have also been extended to meet demand, with the Central Public Market open from 4:00 a.m. to 10:00 p.m., and the Terminal Public Market operating from 1:00 a.m. to 10:00 p.m.
City officials said the redevelopment initiative supports the local government’s “My Heart Beats in Iloilo City” campaign, which aims to promote the city’s cultural heritage while strengthening civic pride and community engagement.