The Iloilo Central Market was officially opened to the public on January 15, 1912. Its
Art Deco façade was later added in 1938. The market underwent its first major renovation during the term of Acting Mayor Rosa Caram from 1986 to 1987.
Redevelopment On August 3, 2022, SM Prime Holdings, Inc. (SMPHI) was awarded a 25-year lease agreement for the market’s redevelopment under a public–private partnership with the Iloilo City Government. During the rehabilitation period, market vendors were temporarily relocated to several streets surrounding the market to continue their operations. In March 2024, the market’s Art Deco façade was demolished to allow for a structural reinforcement and a pledged faithful reconstruction of the original design by SMPHI. The move, however, drew public concern over the city government’s approval process. Mayor
Jerry Treñas later faced administrative complaints related to the alleged unlawful demolition, filed by Jose Nereo Lujan, chief information officer of the Iloilo Provincial Information and Community Affairs Office (PICAO), with the
Office of the Ombudsman–Visayas in Iloilo City. In late 2025, the market was officially reopened. The redevelopment maintained the market’s heritage architecture, both exterior and interior, and features two wings: the public market, operated by the local government, and the mall and retail wing, managed by
SM Retail. The public market features a modernized wet and dry market, with the number of vendors increased to 850 from the previous 603. The mall wing features a curated mix of shops, food stalls, local brands, and service establishments. The public market section reopened on October 30, while the mall section opened on November 28. == See also ==