FLOR G. TARRIELA l March 19, 2024 l Manila Bulletin
With the Philippine National Bank’s (PNB) thanksgiving event in Cebu on March 8, PNB Vice Chairman Leonilo “Topper” Coronel (former Citibank Cebu head and Megawide director) arranged for a tour at Cebu’s Carbon redevelopment by Megawide. PNB directors Belitte Papa, Chet Luy, Eusebio Tan, advisors Ding Pascual, Chris Nelson, PNB executives Alan Ang, Muffet Caculitan, Gerry Valenciano, Kat dela Cruz, Jennifer Ng, Doris Bargayo joined the visit.
Going inside Carbon market was a new experience. We passed by a flower section, ala Dimasalang flower market, the native crafts section like the “under Quiapo Bridge” market, native kakanin and food stalls where one can eat, etc. The Carbon market has clean restrooms, backup power generators, CCTV cameras, round the clock security and maintenance. The market was clean and safe, setting new standards for public markets. Above the market is the office where we were welcomed by Chairman Edgar Saavedra, Vice Chair Louie Ferrer, and former CFO Mon Diaz. They also served us with delicious snacks of native chocolate and puto maya in nice rustic package available from the market at reasonable prices.
Lady manager Lyds Eco gave us a presentation of the Carbon redevelopment story. Built in 1909 as a coal depot, the Carbon Market in Cebu City was aptly named after the piles and piles of coal (or carbón in the local language) hauled from the old Cebu Railroad. At present, Carbon is considered one of the largest, busiest, and most historic public markets in the Philippines with well over a hundred years of vendor hustle and bustle activities.
This century-old Carbon Public Market, akin to Manila’s old Divisoria, had suffered from the absence of well-planned infrastructure and security. The market endured problems of overcrowding, poor sanitation, as well as incidents of petty crimes. Nonetheless, commercialism continued to flourish as the market is strategically located along the downtown waterfront area – the heart of Cebu’s historical-cultural-tourism corridor.
In January 2021, Megawide, through wholly owned subsidiary Cebu2World Development, Inc. (C2W), inked a 50-year joint venture agreement with the City of Cebu for the redevelopment of Carbon. The redevelopment celebrates Carbon Market as a time-honored symbol of Cebu’s heritage by creating a more secure and enjoyable hotspot for locals and visitors alike; envisioned to offer world-class products showcasing the Cebuano experience.
For fellow travelers, think of “Chatuchak Market” in Bangkok which attracts tourists in the hundreds of thousands. Carbon Market has more potentials to be unlocked as Cebu’s most famous landmarks are just minutes away – Basilica del Sto. Niño, Magellan’s Cross, the 70-year-old Cebu City Hall, the 27-hectare Cebu I.T. Park, and the longest sea-crossing bridge in the Philippines, the Cebu–Cordova Link Expressway (CCLEX).
To complete the transport hub convenience, C2W will also develop a ferry terminal to transport tourists directly to Mactan Island with a convenient land transfer to Mactan-Cebu International Airport.
Completion of the main public market building is on track. The redevelopment project aims to modernize the infrastructure and to foster community development.
In partnership with the Cebu Chamber of Commerce, seminars on Basic Accounting, Bookkeeping, and Food Handling, and Sanitation Practices were conducted helping vendors manage their daily economic activities. With the University of San Jose Recoletos, PNP-Eagles Club, C2W also spearheaded the formation of a children’s choir and dance group, as well as tutorials in math, reading, physical exercises, and martial arts. These reflect a holistic approach to transformation.
After the office visit, we proceeded to The Barracks, an open dining area in the complex for lunch of “just” Cebu lechon, longaniza, scallops, prawns etc. And during lunch, it was wonderful being serenaded with beautiful music by the children’s choir conducted by Police Officer Marissa Manubag.
I first met Chair Edgar Z. sometime in 2013 when PNB financed the Public Private-Partnership (PPP) for School Infrastructure Development to help solve the nationwide classroom shortage. I was impressed with Megawide’s advanced framework system – prefabricated — that delivered quality construction at faster and less manpower. Since then, the company has gone a long way and embarked on national projects such as airports (Cebu, Clark), terminals (Paranaque), railways (Malolos-Clark) etc.
There is excitement, passion, and a sense of fulfillment about the Carbon redevelopment from the Megawide team. Perhaps because it enhances Cebu’s tourism landscape and the community’s’ development but more so, in the transformation of lives with meaningful impact. The Carbon redevelopment makes its vision “To Engineer a First -World Philippines” a reality. Congratulations to Megawide as one of the Philippines’ innovators in engineering and infrastructure development .
***** Ms. Tarriela was former PNB Chairman and now serves as Board Advisor. A former Undersecretary of Finance, she is lead independent director of Nickel Asia Corp., director of LTG Inc. and FINEX. A gardener and an environmentalist, she founded Flor’s Garden in Antipolo, now an events destination. Photo from Pinterest.