The Carbon Redevelopment remains on schedule for completion of the Carbon Market – Main Building by the end of 2026, with construction progressing steadily through the use of precast technology, a modern building method that enables faster, more efficient, and more controlled construction compared to traditional approaches.
Precast construction significantly shortens timelines while ensuring consistency, durability, and safety—critical requirements for a major public infrastructure project such as Carbon Market.
Design Rooted in Cebu’s Identity
The architectural design of the Carbon Redevelopment has been carefully developed to reflect Cebuano heritage and identity. Key design elements include:
●Black accents, referencing carbon or coal, in recognition of the market’s historic roots; and
●Terracotta tones and façade accents, inspired by materials commonly found in Bahay na Bato and other heritage structures.
These elements ensure that modernization is not at the expense of character, but instead remains grounded in local history and context.
Vendor Consultations as a Core Component
Vendor consultation has been a central pillar of the Carbon Redevelopment, conducted even prior to the start of construction and continuing throughout project implementation.
Consultations are carried out in phases, recognizing that different vendor groups have distinct needs depending on their products and operations.
During the most recent scheduled consultation on February 5, 2026, vendors were able to view proposed layouts and facilities using virtual reality (VR) technology, allowing them to better visualize the spaces and understand how their inputs are being incorporated into the design.
Not Privatization: A Joint Venture with the City
The Carbon Redevelopment is not a privatization of Carbon Market. Ownership of the property remains with the Cebu City Government.
The project is being implemented through a Joint Venture Agreement (JVA), under which, Cebu2World–Megawide serves as the development partner responsible for construction and certain operational components, while the City retains ownership, regulatory authority, and policy oversight.
Close Coordination with the City Government
Cebu2World–Megawide continues to work in close coordination with the Cebu City Government, particularly through the Office of the City Markets, which oversees vendor matters, listings, and market operations. All vendor-related processes are undertaken jointly with the City.
Clarification on the Recent Consultation
The consultation held on February 5, 2026 was part of the regular series of scheduled sessions aligned with the Office of the City Markets and is intended for registered vendors. The discussion, however, was disrupted by individuals opposing the redevelopment.
Cebu2World–Megawide remains committed to continuing consultations in an orderly, respectful, and constructive manner to ensure that all legitimate vendor concerns are heard.
No Vendor Left Behind
A guiding principle of the Carbon Redevelopment is to ensure that no vendor is left behind.
Vendor lists are prepared and validated by the Cebu City Government through the Office of the City Markets. The project aims to provide vendors with safer, cleaner, and more dignified working conditions, while maintaining market rates consistent with the 2017 Market Code, a city ordinance enacted by the City Council.
A Long-Term Investment for Cebu
The Carbon Redevelopment represents a long-term investment in public infrastructure, livelihood, and the future of Cebu’s market system—one that seeks to preserve the spirit of Carbon while building facilities that meet the needs of present and future generations.
