A new public market spanning two hectares will soon rise in Surigao City to replace the old one, a local government official said.
The new PHP12 million public market will be established in Barangay Sabang, which is still within the city proper of Surigao.
“This will be funded locally. The appropriation was already approved,” said Mayor Ernesto Matugas.
Once completed, all occupants of the old market will be required to transfer to the new one-storey public market building.
“The old market has caused traffic congestion because Surigao City is growing fast. The number of vehicles has increased,” Matugas said.
He said the construction of the new market building will commence by the middle of this year. It was delayed because of the recent earthquake.
Matugas said a four-storey shopping mall will rise at the old market.
Matugas said a Malaysian firm, in partnership with the Villar group of companies, will build the new shopping mall at a cost of PHP1.2 billion.
“This will be built and operated through the Public Private Partnership (PPP) scheme. The LGU (local government unit) is still the owner of the land where the four-storey building will be built,” he added.
A plan was already presented to the local government, with Matugas assuring that the mall “will no longer cause traffic congestion” in the area as wide inner roads and spacious parking lots will be integrated in the construction of the building.
The new mall will have a basement parking, the first three floors for rental and the top floor for entertainment, including cinemas, he said.
“We are going to collect around PHP400,000 to PHP500,000 per month for land rental,” Matugas said.
Matugas said the PPP scheme will last for 25 years, after which the building will be turned over to the LGU for management. (PNA)