Cebu's Carbon Market Redevelopment on Track for 2026 Completion
The developer behind the Carbon Public Market redevelopment in Cebu has firmly committed to wrapping up this long-delayed, multibillion-peso project by December 2026. This renewed timeline is bolstered by Megawide Construction Corp.'s strategic adoption of precast technology, which promises to accelerate construction while enhancing overall quality control.
Vendor Assurances Amidst Opposition
In a project briefing held on Friday, February 6, 2026, Cebu2World Development Inc. (C2W), a subsidiary of Megawide, addressed concerns from local vendors. The company assured that market rental fees will remain fixed at P8.50 per square meter when vendors relocate to the new facilities, with this rate locked in until 2028 to ensure a smooth transition. This announcement comes in response to strong opposition from various Carbon vendors' groups, who staged a silent protest rally on Thursday, February 5, following C2W's notification to the City Government about commencing fee collections under the Joint Venture Agreement (JVA).
Clarifying Roles and Ownership
C2W emphasized that it acts solely as the City's private partner under the JVA, with ownership of the Carbon Market firmly remaining with the Cebu City Government. The developer clarified that no vendor will lose their stall, including both regular and ambulant sellers, based on the official vendor list from the Office of the City Markets (OCM). C2W reiterated that the OCM is the exclusive agency responsible for vendor listing and stall assignments, not the private developer, aiming to alleviate fears of displacement or unfair practices.
Technological Boost for Timely Delivery
To meet the December 2026 deadline, Megawide Construction Corp. will leverage precast technology, a method known for speeding up building processes and improving structural integrity. This approach is expected to address previous delays and ensure the project's timely completion, bringing much-needed upgrades to one of Cebu's iconic public markets.
