City gov’t buying P1.1B property of Yansons for market, housing

Bacolod Mayor Alfredo Abelardo Benitez is negotiating with the Yanson family for the purchase of its 2-hectare property for the new Burgos Public Market, and is buying 17 hectares more in Barangay Vista Alegre to expand the city’s relocation site.

The 2-hectare Barangay 19 property for the market owned by businessman Roy Yanson is estimated to cost P920 million but he is negotiating to bring down the price, the mayor said on Monday, January 22.

Benitez hopes to complete the purchase soon so that the construction of the new market can start in the first quarter of 2024.

He said the city is opting to buy the property because there are legal complications to its swapping its property where the current market is located with the Yansons. The Yansons are also not interested in a public private partnership, he said.

Benitez said by building the new market on the Yanson property, vendors at the Burgos Market will only have to transfer when construction is completed.

The city government is also buying 17 hectares in Barangay Vista Alegre from Roy Yanson for the expansion of its housing relocation site, he said.

The property cost P255 million and it is just matter of getting the approval of the Bacolod Sangguniang Panlungsod, he said.*

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