Carbon Market: Constantly evolving, redefining the concept of modern day “palengke”

The Carbon Market in Cebu Province continues to defy conventions of the way a public’s town market or “palengke” is supposed to look and function. 

For starters, commercial activity is starting to embrace digitalization, as confirmed by Deputy General Manager Lydwena Eco of Cebu2World (C2W) Development Inc., which is the operator of the Carbon Market. C2W is a subsidiary of engineering and infrastructure innovator Megawide. 

“Phase 1 of our modernized public market collection is currently rolling out, where we are currently transitioning from pure cash payments into semi digital,” confirmed Eco. “We are confident that by the third quarter of 2024, we will achieve full digitalization, when all payment transactions will be purely cashless.”

Redeveloping the landscape

Five areas of the modernized Carbon Market are already operational. These are the Bagsakan, Sto. Niño Chapel and Park, Interim Public Market Building, Freedom Park, and Cebu’s newest food destination: The Barracks.  Meanwhile, its main segment will commence construction by the first quarter of 2024. 

Prior to these works, C2W worked on improving necessary infrastructure such as clearing, repair and widening of roads and sidewalks, improving drainage systems, and enhancing safety and security in partnership with the Philippine National Police. 

In the interim building, stalls are almost completely leased at 98%, as 892 out of 910 are already occupied. For commercial spaces, seven out of 10, or 70%, have been rented out.

With regard to “The Barracks’” 172 units, 158—or 92%—are now under lease. Its amusement and exhibits area opened last November 3. 

For the “Freedom Park,” all but one of its 16 commercial spaces (94%) have been leased. In the Sto. Niño Chapel area, half or 5 of the spaces for businesses have been rented out.

“We also continued to innovate services for tenants and workers in the market with the opening of the Carbon Market’s dormitory-hotel as well as a pay shower at the interim public market,” the C2W executive imparted. “Those facilities provide for decent working and staying conditions for tenants and workers.”

“C2W intends to change the way marketplaces are appreciated by Filipinos,” Eco pointed out. “Cebuanos can expect more from the Carbon Market, as it will be a prime example of a modern ‘palengke’ for Pinoys to enjoy and embrace come 2024.”

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