PPP Center
03 July 2012

 

Major retail operators have expressed strong interest to take part in Talisay City’s Plaza Complex Heritage Restoration and Redevelopment project.

Mall giants Ayala Land Sales Inc and SM Prime Holdings of the SM Super Malls, alongside Negros Occidental-based retail players 888 China Square, Lopues Department Store, and Carmella Valley Corp recently attended the market sounding session conducted by the local government of Talisay in Negros Occidental led by Talisay City Mayor Eric Saratan and the Public Private partnership Center.

The heritage and restoration project is Talisay City’s first PPP project that will restore, develop and transform the 13,757 square meter Talisay City Complex, which includes the old Central Public Market and City Hall, into a mix-use commercial complex at the same time conserving and restoring the City’s century-old structures. The PPP heritage and restoration project is set to generate interest as a major tourist attraction in Talisay City. It is also the country’s first heritage restoration project to be undertaken as a PPP project.

PPP Center Executive Director Cosette V. Canilao said that heritage restoration projects like the one in Talisay are deemed highly viable specifically in the light of a growing tourism industry.

“We consider the Talisay heritage project as a clear example of the scope and breadth that public-private partnerships can be tapped. Traditionally, PPP focused mostly on hard infrastructure like roads. This time around, government is using PPP for social infra like our school buildings and hospitals. With Talisay, we are exploring heritage and tourism. The recent market sounding made it clear to us that there is much interest from the private sector for this type of PPP project. We are hopeful that will be the start of more partnerships and projects on heritage and restoration with the private sector,” the PPP Center chief explained.

The market sounding session brought together the local government of Talisay and interested investors and stakeholders to level off expectations and discuss issues that can positively benefit the structuring of the project.