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Manila Bulletin devider Philippines devider Luzon devider Redevelopment project of P5.5-B Carbon Market set to start

Redevelopment project of P5.5-B Carbon Market set to start

Published Mar 25, 2021 02:27 pm

CEBU CITY – After two postponements, the multi-billion redevelopment of the Carbon Public Market has finally broken ground.

Over 100 vendors along with militant groups held a protest rally as they condemned the privatization of the Carbon Market in Cebu City as they were dispersed by the members of the Cebu City Police Office in front of Cebu City Hall. (Photo by Juan Carlo de Vela/ MANILA BULLETIN)

The Cebu City Government and engineering giant Megawide Construction Corporation on Wednesday held the groundbreaking ceremony for the P5.5 billion project, marking the start of construction activities for Phase 1.    
 
Phase 1 of the projects includes the development of the Puso 24/7 Village, land transportation hub, Sto. Niño Chapel and public market. The first phase will take four to five years to complete.
 
“Today’s ceremony marks more than just the start of construction for the Carbon Modernization Project; it is a promise of our continuing commitment to project stakeholders and the people of Cebu,” said Louie Ferrer, Cebu2World Chairman.
 
Cebu2World, which is the company undertaking the project, is a wholly-owned subsidiary of Megawide.
      
The groundbreaking was originally scheduled last March 17. The activity was moved to March 23 but was cancelled again.
 
In the postponed groundbreaking rites, a protest rally by various vendors’ associations opposing the project was supposed to take place near the Senior Citizens Park, the venue for the groundbreaking ceremony.
 
The objections were reportedly the cause of the postponements.
 
Vendors had complained that the modernization project will lead to increase in rental fees.
 
Ferrer, assured that in consideration of the post-pandemic economy, market rates will remain the same for the next three years, and any subsequent increase will only be incremental.
 
“Vendors and regular stall holders should not worry about rates because they will be based on the Market Code, approved by the Council and more importantly, upon exhaustive consultation with the Public Market Oversight Committee. As to ambulant vendors, the current "arkabala" system will still be followed,” Ferrer said.
 
Rental rates are currently fixed at P8.50 per square meter per day, which is considered one of the lowest rates in entire country. 
 
As a Public-Private Partnership (PPP) project, the city retains ownership of the entire development, with Megawide, as private partner, investing P5.5 billion for Phase 1 and making a yearly guaranteed payment to the local government, the engineering company stressed.
 
Ferrer reiterated they will continue to consult with stakeholders as the project progresses.
 
Megawide likewise assured that no vendors will be displaced due to the modernization of the market.
 
Planned as a multi-level building, the permanent facility will host all current vendors of the public market.
 
“We have accounted for the number of vendors based on the official list of the Market Operations Division, including ambulant vendors. They will all have space in the upgraded facility – no vendors will be displaced,” said Ferrer.
 
Certificates of Recognition have been released to ambulant vendors of Carbon Public Market. The certificates provide the ambulant vendors with assurance of guaranteed space at the new public market facility and reiterate the continuation of the “arkabala” collection.

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