Saturday, July 22, 2006
At P471M, public market costs almost P18T per square meter
By Rose O. Versoza
Sun.Star Staff Reporter
WITH a total floor area of 2.4 hectares, the proposed Mandaue City Public Market is estimated to cost nearly P18,000 per square meter.
Based on the computation released by Mayor Thadeo Ouano's office, the project's total cost is P471.2 million.
Of this, P35.5 million accounts for the planning, design and site development cost. The remaining P435.7 million is for the building cost.
Ouano earlier defended the price, saying that while it appeared to be higher than the P375-million budget for the Cebu International Convention Center (CICC), it is understandable because the market is bigger than the CICC.
The two-story market has a total area of 24,386 square meters while CICC only covers 16,000 square meters.
The ground floor, with an area of 14,250 square meters, has 1,412 wet and dry stalls, an air-conditioned food court, ice maker and cold storage, six public toilets, three garbage rooms, a police station and a loading and unloading area.
parking space
A roof deck parking space that can accommodate 240 cars, an air-conditioned restaurant with viewing deck and toilet facilities will occupy the 9,983-square-meter second floor.
The facility also has a mezzanine for the administration office and the dry section storage, among others.
It will also have a 156-square-meter jeepney terminal with a passenger waiting area.
The cost already covers the architectural and detailed engineering plan and design, foundation and concrete works, cistern tank facility, electrical and mechanical facility, plumbing system, fire protection system.
Also included is a water treatment facility that has a sewage treatment plant with a 1,452-cubic-meter volume capacity, a grease tank and a chlorine chamber.
However, work on the market has been suspended due to lack of funds.
Completed so far is the market's foundation, which already costs P100 million.
The City negotiated for a loan with two banks to finance the completion, which needs more than P370 million.
The Land Bank of the Philippines has approved a P377-million loan for the project and Ouano is amenable to the bank's offer.
However, the loan agreement has yet to be finalized and the mayor still has to ask the City Council's authority for him to enter into a contract with Land Bank.
For Bisaya stories from Cebu. Click here. (July 22, 2006 issue)
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