Manila approves renovation of Sampaloc Public Market

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The Manila City government announced on Friday that it has approved the conversion of Sampaloc Public Market located at the busy corner of Legarda and Bustillos streets into a modern market equipped with hotel-like facilities. A joint venture was ratified in a public hearing wherein XRC Mall Developers Inc. was given the task to development, manage, and operate the market for 25 years. Under the joint venture agreement, XRC Mall will remit a guaranteed P1.5 million yearly, excluding the projected increases in real property tax and business tax collection from new investments. Vendors will be represented in the five-man governing committee of the market.

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