New Carbon Market developer cries misinformation

Local

OPPOSITION to the Carbon Public Market redevelopment is growing, with protests and a Supreme Court petition threatening to derail the project.

The developer, Cebu2World Development Inc., claims the objections are based largely on misinformation, not contractual flaws.

Manuel Louie Ferrer, president and CEO of Cebu2World, said Friday that the company is prepared to defend the joint venture agreement (JVA) governing the multi-billion-peso redevelopment, stressing that the process was lawful and transparent from the start.

“Karon ready mi because transparent man ta. Wala ta’y gitago. Those documents are public property, maskin kinsa pwede mu-check,” Ferrer said, adding that the company believes it complied fully with legal requirements.

The statement directly addresses claims raised by Cebu City Vice Mayor Tomas Osmeña and several vendor groups that the JVA between the Cebu City Government and Cebu2World, a subsidiary of Megawide Construction Corp., is “grossly disadvantageous” to the city and effectively privatizes Carbon, a public market.

Osmeña has asked the Supreme Court to stop the project, arguing that the city stands to earn less under the deal than when it operated the market on its own. He also questioned the legality of allowing a private company to collect market fees.

Ferrer disputed these claims, saying the figures presented by Cebu2World are based on official policies and verifiable data.

“We presented the right numbers, the real numbers. Public documents man ni. They can check,” he said. “If tan-aw nila grossly disadvantageous, asa man dapit? Which part?”

According to Ferrer, the company is following the 2017 market rates set by city ordinance. He said criticisms often stem from incorrect comparisons or incomplete research, noting that vendors themselves realize the difference when actual fees are explained.

Ferrer emphasized that Cebu2World cannot freely raise fees because the JVA requires adherence to market-based rates and existing ordinances. Any attempt to violate those terms, he said, could expose the company to contract termination.

“Kung muusab mi sa among concession agreement, that can be a clause for termination. Dili mi ganahan ana,” he said. “So asa dapit ang disadvantage sa gobyerno, sa vendors, ug sa Cebu City?”

During the discussion, Cebu2World addressed recurring concerns from vendors and the public, clarifying that the Carbon Public Market is not being privatized and remains owned by the Cebu City Government, with the company acting only as the city’s partner for redevelopment and operations under the joint venture agreement.

The developer also said no vendors will lose their stalls, noting that based on the official vendor list from the Office of the City Markets, all recognized regular and ambulant vendors will be accommodated in the new market, while the listing and awarding of stalls will continue to be handled by the city.

Cebu2World further said rental fees will remain at ₱8.50 per square meter, in accordance with the 2017 Market Code, until 2028. This as part of efforts to ensure a smooth transition.

The main Carbon Public Market building is projected to be completed by December 2026, with flower vendors, native product sellers, and wet market vendors prioritized for transfer to the new facility.

Despite these assurances, resistance has not faded. Vendor groups have staged rallies warning that the redevelopment could drive small sellers out of business due to higher long-term costs and stricter rules they describe as “mall-like.”

Ferrer acknowledged the backlash but said it is not new territory for the firm.

“Discouragement, yes, naa gyud, but we are already here,” he said, recalling similar opposition faced during earlier projects such as the Mactan-Cebu International Airport redevelopment.

Asked what happens if the Supreme Court rules in favor of Osmeña, Ferrer said the company will respond once a decision is issued.

“Tubagon lang namo if naa na,” he said. “Ready mi kay transparent man ta. Wala tay gitago.”(TGP)