Iloilo City’s Terminal and Central Public Markets have reopened with modernized facilities that merge tradition and innovation, offering local micro, small, and medium enterprises (MSMEs) a renewed platform for growth. The redevelopment, completed last year, transformed these historic hubs into vibrant centers of commerce, thanks to a strong public-private partnership between the Iloilo City Government and SM Prime Holdings Inc. (SM Prime).
“The Iloilo Central and Terminal Public Markets are among the city’s most historic public spaces, and we are proud to be part of their transformation,” said SM Prime President Jeffrey Lim. “Ilonggos now have two modern, efficient and inclusive spaces that showcase their culinary heritage and entrepreneurial spirit.”
With Iloilo City emerging as the fastest-growing economy in Western Visayas, fueled by a dynamic retail trade sector contributing to its GDP, SM highlighted the importance of supporting the MSME sector, a key driver of local economic growth.
“These redevelopment projects were driven by the local government’s desire to give small businesses the space and support they deserve. As more foreign and domestic tourists discover Iloilo City, these markets can play a bigger role in showcasing its food culture and local enterprise,” Lim added.
Modern Design and Sustainable Features Boost Market Operations
The redevelopment project expanded and reimagined the two markets into modern commercial hubs, integrating public market areas with retail shops, food halls, and banking facilities. A roof deck parking area was also included to enhance accessibility, blending SM Supermalls’ customer-focused innovations with the city’s historic marketplace.
Incorporating sustainability into the structures, both markets now feature operational Material Recovery facilities for better waste management and sewage treatment plants to ensure proper wastewater handling, reflecting SM’s ongoing commitment to environmental responsibility.
Modernization has also directly benefited vendors. Joelle Iubel Janeo, third-generation owner of Rawit’s Native Lechon Manok, which was established in 1975, reported increased sales thanks to the improved layout and customer experience.
“Nami ang amon kita kag sold out man ang amon native lechon manok everyday (Sales are doing good and our native lechon manok is sold out every day),” Janeo said, noting how the upgraded facilities have made shopping and dining more convenient for customers.
SM Prime further strengthened vendor capabilities by providing business and food safety training, operational guidance, and growth opportunities inspired by the standards of SM’s nationwide malls. Homegrown Ilonggo brands, such as Madge Café, have also benefited, continuing to serve tradition while adapting to a modern retail environment.
Community and Customer Benefits
Beyond supporting vendors, the redevelopment has improved the shopping experience for residents. Christine Benadero, council adviser at the University of Iloilo’s College of Business and Accountancy, highlighted the convenience of the integrated market and retail spaces.
“It’s very convenient to do everything in one place,” she said, noting that shoppers can now easily access fresh goods and retail services under one roof.
Lim added, “The modernization of both markets marks a new chapter for the city, one that respects the past while preparing for the future. We hope their continued success encourages other communities to improve their own public spaces in ways that really matter.”
With these upgrades, Iloilo City not only preserves its cultural and culinary heritage but also strengthens local entrepreneurship, providing residents and tourists alike with a safer, cleaner, and more efficient marketplace. The revitalized markets create tangible opportunities for MSMEs to grow, contributing to the city’s economic resilience and the region’s broader development.
RELATED: [Iloilo Partners With Healthway For P200-M Province-Wide Dialysis Program]
