“THE FIRST OF ITS KIND” THAT WE HAVE HERE IN ILOILO CITY: Treñas clears PPP terms with SM Prime Holdings Inc (SMPHI).
Some 2,800 vendors in the re-developed Central and ‘Super’ Markets are assured of slots, Iloilo city mayor Jerry Treñas reiterated in a media briefing earlier today.
The mayor explained that “SM would manage its “SaveMore” while the LEEO (Local Economic Enterprise Office) of the city would manage the public market under the new structure in the two markets.
A formal lease agreement were formally held on August 2,2022 between the Iloilo City Government and SMPHI represented by Mayor Jerry Treñas and SMPHI President Jeffrey Lim, respectively.
Lim said their initial investment estimate is P3 billion for the two projects. “The designs are being finalized and the amount could actually change” to a higher amount of P5 billion for the two projects.