ILOILO

2 Iloilo City markets up for public-private partnership

Photo By PPP Center

THE City Government of Iloilo, with support from the Public-Private Partnership (PPP) Center of the Philippines, is developing and will be launching the Iloilo City Central and Terminal Public Markets Project, the two proposed developments are referred to as the "Project."

A Call for Participants: Market Sounding Activity is being conducted April 21 to 30, 2021 facilitated through an online form or one-on-one meeting with PPP Center.

The Project’s indicative investment cost ranges from P2.9 to 3.6 billion.

The Project involves design, finance and construction of mixed-use buildings, operation and maintenance of commercial spaces, and maintenance of the whole facility for 30 years, subject to finalization of business case.

Potential revenue sources for the private sector proponent may include rental fees from public market and commercial spaces, cargo-handling charges, vehicular docking charges, warehousing/cold storage rental charges, bulk hauling and terminal fees, and parking fees.

The Project aims to redevelop the main markets and provide 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.

As part of the final stages of project development, the city is conducting this market-sounding activity to solicit insights and feedback on the project terms from interested private sector investors.

The objectives are as follows:

*Provide a brief background and envisioned scope of the Project to potential private sector participants;

*Gauge the interest of private sector to partner with 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 private sector, including lenders, on how to make the Project more attractive and bankable; and

*Understand key considerations of private sector regarding their potential involvement in the Project in partnership with city.

Interested parties may contact Loida L. Ramos, Project Development Officer of PPP Center's Project Development Service thru LLRamos@ppp.gov.ph and Local Economic Enterprise Office head Maricel Mabaquiao thru mmabaquiao1973@gmail.com. (PR)


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