Iloilo gov’t awards redevelopment of two public markets to SMPHI

ILOILO CITY—The city government here on Tuesday, August 2, formally awarded the rehabilitation of the Iloilo Central and Terminal Markets to one of the country’s biggest retail companies.

Iloilo City Mayor Jerry Treas turned over the signed 25-year lease agreement to SM Prime Holdings, Inc. (SMPHI), proposing market redevelopments unopposed in a Swiss challenge.

Under the lease agreement, SMPHI, through SM Supermalls, would facilitate the redevelopment of the two markets within two years from breaking ground.

Improvements to the internal facilities include ingress and egress points for delivery of the goods, parking spaces, security cameras, comfort rooms, solid waste mana…

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