Cebu2World Megawide Reassures Carbon Market Vendors on Affordable Rates During Redevelopment
Cebu2World Development Inc. (C2W), a subsidiary of Megawide Construction Corp., has provided firm assurances to vendors at the Carbon Public Market in Cebu City that they will not be overlooked during the ongoing redevelopment project. The company emphasized that rent and market fees will continue to be kept at affordable levels, with any potential increases falling outside its jurisdiction.
Vendors as the Heart of Carbon Market
Jynx Chanjueco Corp., the public affairs and marketing manager of Cebu2World Megawide, highlighted the critical role vendors play in the market's ecosystem. He described them as the "heart and soul" of Carbon Market, essential for maintaining foot traffic and supporting overall business vitality in the area.
Chanjueco stressed that maintaining low prices is fundamental to ensuring customer patronage. "If we neglect the vendors and prices increase, foot traffic will disappear. That will also affect other commercial businesses that will be established in Carbon," he explained. The Carbon Redevelopment Project, governed by a Joint Venture Agreement (JVA) between the Cebu City Government and Cebu2World Megawide, aims to benefit all stakeholders involved.
Clarification on Rate-Setting Authority
Chanjueco clarified that Cebu2World Megawide does not possess the authority to impose or approve hikes in rent and market fees. This power rests exclusively with the Cebu City Government, which determines rates through ordinances under the Market Code, as decided by the City Council.
Under the redevelopment, payments for vendors, particularly ambulant vendors, are projected to be lower than current expenses. Currently, ambulant vendors pay an estimated P400 daily, covering:
- Market fees paid to the city
- Barangay and association fees
- Tent and canvas rentals
- Weighing scales
- Electricity
- Storage costs
Improved Facilities and Operational Efficiencies
With the new market setup, vendors will no longer need to rent tents or canvases. Utilities such as electricity and water will be metered and billed based on actual consumption. Ambulant vendors listed by the Office of the City Markets will receive permanent slots, eliminating the daily setup and dismantling of stalls.
Chanjueco noted that "for now, Cebu2World Megawide has not collected any market fees," with collections still managed by the Office of the City Markets. Current rates are based on the 2017 Market Code, including the P8.50 per square meter fee, which will remain effective until 2028.
Future Considerations and Transition Plans
After 2028, potential rate adjustments under the 2023 Market Code may occur, but any transition will require coordination with various city departments, including:
- City Treasurer's Office
- City Legal Office
- City Administrator's Office
- Office of the City Markets
Cebu2World Megawide has proposed a three-month transition period to the City Government, reiterating its commitment to adhere strictly to the Market Code's stipulations. "We are not the ones who decide on the amount or any increase in rates. We only rely on the Market Code passed by the City Government," Chanjueco affirmed.
