Baguio City Mayor Benjamin Magalong assured vendors that they will not be displaced by the proposed P4.5 billion redevelopment of the public market, currently under discussion with SM Prime Holdings.
During a public consultation on August 9, Magalong clarified that no formal agreement had been made with the private firm and denied rumors that SM Prime would control market operations or dictate rental fees.
He emphasized that 70 percent of the market’s land area would be reserved for vendors, while the private entity would occupy only 30 percent, with management remaining under city government control.
The redevelopment aims to address sanitation issues and reduce pollution from the market’s sewage system.
The project will undergo a thorough approval process, including confirmation by the City Development Council and potential challenges from third parties before proceeding.
Source : PhilNews24 | August 13, 2024
