Robinsons, SM want in on Baguio City market modernization

Four companies, including Robinsons Land Corporation (RLC) and SM Prime Holdings Inc. (SMPH), have submitted offers to redevelop and modernize the Baguio City market, the local government unit reported.

According to the Baguio City Public Information Office (PIO), RLC presented its proposal to city officials on February 14, and SMPH on February 17.

RLC is engaged in the development and operation of shopping malls and hotels, mixed-use properties, office and residential buildings, and residential housing developments.

Meanwhile, SMPH is involved in the acquisition and development of real estate under its four business units: malls, residential, commercial, and hotels and convention centers.

"[T]wo more big companies have served intention to present proposals in the coming days for the multi-billion project aimed to modernize the public market, supposedly the city's show window," Baguio City PIO said in a post on its Facebook account.

The project will be undertaken under the public-private partnership (PPP) scheme, subject to rules and regulations.

According to the Baguio City PIO, the city council earlier approved the architectural design for a seven-storey structure.

The development is planned to have two underground floors with provisions for parking, a sewerage treatment plant, a materials recovery facility, and 30% for open space for alleys and parks.

"[T]he city intends to speed up the process without resorting to shortcuts in the established procedures to ensure that only the best offer will be selected at the shortest time possible," the PIO said.

According to the PIO, the market should have been developed in 1995, but the contract between the city government and its partner Uniwide Sales Realty and Resources Corp. was halted due to lawsuits filed by opposing vendors' groups. — Jon Viktor D. Cabuenas/BM, GMA News