Megawide Carbon Market modernization breaks ground

After several delays, the Cebu City government and the Megawide Construction Corp. have finally conducted the groundbreaking ceremony for the Carbon Market modernization program, the construction of which will last the next five years. Megawide will be pouring in P5 billion for the project. /Cebu City PIO

CEBU CITY, Philippines — The Carbon Market modernization program finally broke ground after twice delayed on March 24, 2021, signifying the start for the multibillion public-private partnership project of the Cebu City government and of Megawide Construction Corp.

Mayor Edgardo Labella and Megawide Executive for Infrastructure, Louis Ferrer, led the groundbreaking at the Senior Citizens Park, the portion that would turn part of the mixed-use development in the next five years.

The delay was caused by the objections of vendors of the market regarding some portion of the joint-venture agreement (JVA) that would allow Megawide to collect the rent of the new market and also raise the rent after three years.

READ: Megawide groundbreaking moved to Wednesday

Yet after a resolution was signed by the vendors and the city government that negotiations would continue after the groundbreaking, the vendors have agreed to push through with the groundbreaking.

“We’ve had to postpone this twice. That is okay, we actually understand. We prefer that our partners talk to us, ask us questions, and even argue with us for some major concerns and doubts. Mas okay na nga magprangkahay ta sa sugod ba because we believe that open communication is the foundation of a good relationship,” said Ferrer.

Shirley Cadinez, board director of the Cebu Vendors Credit Cooperative, said that the vendors are thankful for the city government initiative to modernize the Carbon Market.

She said that it is high time that the market would be developed as the vendors continue to grow in business in Cebu’s largest market.

“This project development for the modernization of the public market means a lot to us vendors because makasulod na ang tanang ambulant vendors. They will have a roof to shelter them from the sun and rain. Adunay na unyay healthy competition ang mga manindahay kay tua naman sa sulod tanan. Limpyo og hamugaway na pud ang pagkangompra sa atong mga customer,” said Cadinez.

Mayor Edgardo Labella thanked the City Council for making the project possible with their support. He said that it has always been his vision to improve the market that has become the home for many vendors yet remained a challenge for the government to improve.

READ: Cebu City to get P50M annually from modernized Carbon Market

The city government and Megawide dropped a time capsule at Senior Citizen’s park that would signify the starting point of the construction ceremonially.

However, the first phase of the project would be to relocate all vendors from the Freedom Park and Warwick Barracks to a refurbished Unit II temporarily where they will stay for the next two years.

The first phase of the construction will be the new market patterned to the old railway station and will house 1,500 stalls for the vendors who will be using these in shifts.

The entire P5 billion project is expected to finish in five years and will include a sea taxi port, boqueria, mall, a Sto. Niño chapel, and city check-in for the airport, which is also managed by Megawide. /rcg