The Iloilo Central Market and the Terminal Market are set to reopen on October 30. These are two of the city’s most familiar landmarks, signaling a major step in the effort to revive the downtown area.
The redevelopment is part of a public–private partnership between the Iloilo City Government and SM Prime Holdings, Inc. (SMPHI), where SMPHI was granted a 25-year lease in August 2022 to modernize and manage both markets.
A Modern Take on a Classic Landmark
For generations, the Central Market and Terminal Market have been central to daily life in Iloilo. The redevelopment seeks to keep that role alive while improving safety, structural integrity, sanitation, and convenience for both vendors and shoppers.
The new facilities will feature upgraded stalls, better waste management, improved parking, and wider walkways. This is also why the Central Market’s Art Deco façade has also be rebuilt to preserve the character of the old structure.
During construction, vendors were temporarily relocated to nearby streets to continue their business. Many are now preparing to return to their new stalls once the markets reopen.
But this major rehabilitation faced challenges along the way.
Controversy Over the Facade
In March 2024, the old Art Deco façade of the Central Market was demolished to allow for structural reinforcement before reconstruction. The move drew public concern and led to an administrative complaint against Mayor Jerry Treñas, filed by Jose Nereo Lujan of the Iloilo Provincial Information Office, before the Office of the Ombudsman–Visayas.
However, city officials said the demolition was necessary to ensure the building’s safety and that the façade has been faithfully restored to its original design.
Despite the controversy, the reopening is widely seen as a key moment in the city’s downtown renewal. Local businesses expect the new markets to revitalize Iloilo’s rich cultural landmark and bring even more shoppers and tourists into the area.
A New Chapter For Iloilo
For many Ilonggos, the Central and Terminal Markets are more than just commercial spaces. They are part of the city’s identity and a living link between Iloilo’s past and its modern growth.
As the October 30 reopening nears, anticipation is rising. After years of construction, the markets are ready to welcome vendors and customers once again—cleaner, safer, and still unmistakably Iloilo.
