SM Prime completes upgrade of Iloilo public markets

SM Prime Holdings Inc., the integrated property development arm of the SM Group, has completed the transformation of Iloilo City’s iconic markets into modern, efficient and inclusive centers of local enterprise.

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In partnership with the Iloilo City government, SM Prime has soft opened the newly redeveloped Iloilo Central Market and Terminal Market, two of the city’s largest and most historic public spaces.

The redevelopment is a landmark public-private partnership signed in August 2022 under a 25-year lease. The project broke ground in 2023, with investments of nearly P3 billion.

The project was completed at no cost to the city and is managed by the Local Economic Enterprise Office to preserve the public character of the markets.

"This is not a business move or an expansion program. This is just a natural progression because of our commitment to micro, small and medium enterprise (MSME) development.