Iloilo Public Markets: The Iloilo City Government, with the support of the Public-Private Partnership (PPP) Center of the Philippines, is developing a project involving the Iloilo City Central Market and the Terminal Public Market, dubbed as ‘The Project’.
The project focuses on the redevelopment of the two aforementioned public markets and provides the city with a sustainable multi-use market complex that will boost business activities, as well as preserve the economic value of the Old Central Business District of Iloilo City.
To date, a Call for Participants: Market Sounding activity is taking place (started April 21st and ending on the 30th) with the goal of soliciting insights and feedback from interested private sector investors. It involves submission via online form or a one-on-one meeting with the PPP Center.
The objective of the market sounding activity includes:
Provide a brief background and envisioned scope of the Project to the potential private sector participants; gauge the interest of the private sector to partner with the City for undertaking the Project as a PPP; determine the level of interest, capability, and experience of the private sector (including lenders) to undertake the Project; identify potential issues or problems that may affect the Project, particularly its viability; obtain insights from the private sector, including the lenders, on how to make the Project more attractive and bankable; and understand key considerations of the private sector regarding their potential involvement in the Project in partnership with the City.
The Project involves the design, finance, and construction of the mixed-use buildings of the Central and Terminal Public Markets, operation and maintenance of the commercial spaces, and maintenance of the whole facility for a period of 30 years, subject to the finalization of the business case. The project’s indicative investment cost ranges from Php 2.9 to 3.6 billion.
Moreover, potential revenue sources for the private sector proponent may include rental fees from the public market and commercial spaces, cargo-handling charges, vehicular docking charges, warehousing/cold storage rental charges, bulk hauling, and terminal fees, and parking fees.
For more information, visit this link: Iloilo City Central and Terminal Public Markets Project.