BUSINESS
Advocates Philippines
SM Prime Backs Out Of Baguio Market Deal After Disputes
FILE
SM Prime has officially stepped away from the proposed redevelopment of the Baguio Public Market, saying it could no longer move forward because of unresolved issues surrounding the project.
In its letter dated December 19, 2025, the company said it had made several attempts to cooperate with the city and other parties, but key concerns and disagreements remained. Because of this, SM Prime said it decided it would be best to withdraw and “let the city pursue whatever direction it believes is best for the market.”
The company added that while it was ready to invest and modernize the market, it respects the ongoing debates and differing views about the project. SM Prime also thanked the city for the opportunity and said it hopes Baguio can still move toward a development plan that benefits vendors, residents, and the local economy.
For now, the fate of the Baguio Public Market is back in the hands of city officials — with the project once again facing questions on what should come next.
In its letter dated December 19, 2025, the company said it had made several attempts to cooperate with the city and other parties, but key concerns and disagreements remained. Because of this, SM Prime said it decided it would be best to withdraw and “let the city pursue whatever direction it believes is best for the market.”
The company added that while it was ready to invest and modernize the market, it respects the ongoing debates and differing views about the project. SM Prime also thanked the city for the opportunity and said it hopes Baguio can still move toward a development plan that benefits vendors, residents, and the local economy.
For now, the fate of the Baguio Public Market is back in the hands of city officials — with the project once again facing questions on what should come next.
Jan 5, 2026
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