Local micro, small, and medium enterprises (MSMEs) in Iloilo City are seeing improved business performance following the redevelopment of the Iloilo Central and Terminal Public Markets through a public-private partnership between the city government and SM Prime Holdings Inc.

Reopened last year, the two markets—long considered key centers of commerce and community in Western Visayas—have evolved into modern hubs that combine traditional market functions with upgraded infrastructure and facilities.

“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 C. Lim. “Ilonggos now have two modern, efficient and inclusive spaces that showcase their culinary heritage and entrepreneurial spirit.”

The redevelopment was anchored on a shared goal of creating a cleaner, safer, and more organized public market experience, while maintaining the markets’ role in supporting local livelihoods. The facilities remain owned, managed, and leased by the Iloilo City Government.

With Iloilo City emerging as one of the fastest-growing economies in Western Visayas, driven by a strong retail sector, the initiative underscores the importance of supporting MSMEs as key contributors to 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.

The upgraded markets feature dedicated public market areas complemented by retail spaces, food halls, and banking services, along with roof deck parking for added convenience. Sustainable features such as material recovery facilities and sewage treatment plants have also been integrated to improve waste and water management.

For vendors, the improvements have translated into better business conditions. Joelle Iubel Janeo, a third-generation owner of Rawit’s Native Lechon Manok, said sales have increased since relocating to the modernized Iloilo Central Public Market.

“Nami ang amon kita kag sold out man ang amon native lechon manok everyday,” Janeo said.

Tenants have also benefited from training programs on business operations and food safety, helping them adapt to a growing customer base and improved market environment.

The redevelopment has likewise provided opportunities for homegrown brands such as Madge Café, a long-standing Iloilo coffee shop, to expand within a more accessible and modern setting.

Customers have also noted improved convenience. Christine Benadero, a council adviser at the University of Iloilo’s College of Business and Accountancy, said the upgraded markets allow shoppers to complete multiple errands in one location.

“It’s very convenient to do everything in one place,” she said.

“The modernization of both markets marks a new chapter for the city, one that respects the past while preparing for the future,” Lim said.