Malimgas Market 1 nears full occupancy

By April 19, 2014Business, News

THE refurbished Malimgas Public Market 1, which has been operating at a loss in the past nine years since its opening in 2005, could finally bring in money to Dagupan City with its now almost full occupancy status.

At the same time, total collections in Dagupan’s various public markets for the first quarter of the year increased by 34.36 percent compared to the same period last year.

City Market Administrator Aguedo Sta. Maria reported during the mayor’s executive session last Monday that collection from January to March this year from the four markets increased to P15.4 million this year from P11.4 million last year.

Aside from Malimgas Market I, the other public markets are the Magsaysay Fish Market, new Galvan Market, and the new Malimgas Phase II market on A. B. Fernandez Avenue.

The three-storey New Malimgas II Market registered the biggest increase with its collection from stall rental alone improving by 19.29 percent from P4.7 to P5.6 million during the period on review.

On the other hand, fees for the Common Use Service Area (CUSA) at Malimgas Market 1 jumped to 20 percent from P1.4 million to P1.7 million.

Meat inspection fee also increased by 14.53 percent from P662,710  to P759,017.

ECONOMIC TURNAROUND

Sta. Maria said if the trend continues, this could be the start finally of a turnaround for the new Malimgas Market 1, the city’s biggest market at three storeys, that had many unoccupied stalls during the past city administrations.

To date, only 20 stalls remain unoccupied in the ground floor compared to 109 last year, while the second floor has only 18 unoccupied stalls now compared to the previous 120.

However, the third floor of the market designed as a high-rise parking area is still not fully utilized as vehicle owners are reluctant to park there because of the very steep driveway.

The Malimgas Market was built in 2004 using a P280 million loan obtained by the city from the Land Bank of the Philippines (LBP).

Sta. Maria credited the improved performance of Malimgas to the improvements initiated by Mayor Belen Fernandez, including marketing seminars for stallholders .

The  Zero Ambulant Vendors program launched by Fernandez, also helped increase occupancy at Malimgas.

Fernandez hailed the report of Sta. Maria saying the increase in collection will contribute to the goal of seeking Dagupan’s re-classication to first class from its present second class financial status.–LVM

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