In a significant development for Cebu's historic public market, the proponent behind the Carbon Market redevelopment has guaranteed vendors that their rental rates will remain frozen at P8.50 per square meter when they relocate to the new facility. This fixed pricing structure is set to stay in effect until the year 2028, forming a core part of the strategic plan to ensure a smooth and orderly transition for all stakeholders involved in the market's modernization.
Clarifications Amid Vendor Concerns and Silent Protests
During a briefing held on Friday, February 6, 2026, Cebu2World Development Inc. (C2W), a subsidiary of the prominent Megawide Construction Corp., provided detailed explanations regarding its role in the project. The company emphasized that it operates strictly as a private partner to the city government under the terms of a Joint Venture Agreement (JVA). Crucially, C2W clarified that ownership of the Carbon Market property will continue to reside solely with the Cebu City Government, not with the private developer.
These clarifications were issued against a backdrop of rising tensions. Various groups of Carbon Market vendors had organized a "silent protest" on Thursday, February 5, 2026. This demonstration was triggered after C2W formally communicated to the city government its intention to begin collecting market fees based on the provisions outlined in the JVA, a move that initially sparked uncertainty among the vendor community.
Assurances on Vendor Security and Management Roles
Addressing one of the primary fears, the project proponent firmly stated that no vendor will lose their stall space. This assurance covers both regular, fixed-location vendors and ambulant or mobile vendors, provided they are listed on the official vendor registry maintained by the Office of the City Markets (OCM).
Furthermore, C2W delineated the management responsibilities, confirming that the OCM will retain full authority over the vendor list and the assignment of specific stalls. The private developer will not be involved in these administrative functions, ensuring that the city's existing market governance structure remains intact for vendor relations.
Construction Timeline and Technological Innovation
In addition to addressing social concerns, C2W reaffirmed the project's ambitious completion target of December 2026. To meet this deadline, Megawide Construction Corp. plans to employ advanced precast technology in the construction process. This method is expected to significantly accelerate building timelines while simultaneously enhancing overall quality control and structural integrity of the new market facility.
The redevelopment of the Carbon Public Market represents a major infrastructure and urban renewal initiative for Cebu City, balancing modernization with protections for its long-standing vendor community.
