SM withdraws bid for Baguio City Public Market Redevelopment Project
By: Nonnette C. Bennett
SM Prime Holdings Inc. (SMPHI) withdrew their bid for the Baguio City Public Market Redevelopment Project (The Project) in a letter dated 19 December 2025 to Baguio City Mayor Benjamin Magalong. The letter made public on January 3, 2026 in a post by the City Public Information Office on Facebook.
The letter written by Helene D. Go, authorized representative and Vice-President – Legal stated that SMPHI decided not to proceed with The Project and decided to withdraw because Baguio City has “several matters to settle before The Project can be undertaken.” The matters to settle, Go pointed out had to do with, “the executive and the legislative branches, the BCPM vendors, and stakeholders.”
Go thanked the City Mayor for encouraging the Public-Private-Partnership (PPP) process for spurring development within the city. She said SMPHI would support and offer assistance to the City.
Some quarters supporting the “anti-mallification” campaign expressed relief with the SM move. Luchie Maranan, advocate of the Save the Baguio Market Movement, posted on Facebook , “We are victorious, but we remain vigilant.” Maranan posted earlier, “Better options exist and now lie before us. We reiterate our call for people-led, people-centered, and publicly-funded redevelopment of our marketplace. We do not have to start from scratch. The people of Baguio are capable of bringing about a clean, accessible, and organized public market. We are prepared to support the local government in this endeavor.”
The City Council was scheduled to decide on the proposed PPP project of SM on the first week of January.
