ILOILO CITY – Iloilo City Mayor Jerry Treñas clarified that his decision to approve the renegotiation of the joint venture agreement for the Iloilo Ferry Terminal at Parola Wharf was not politically motivated, despite criticisms linking it to the administration of former mayor Jed Patrick Mabilog.
The agreement, signed in 2012 by Mabilog on behalf of the Iloilo City Government and Ferdinand Sia representing Double Dragon Properties Corporation (DDPC) and another corporation in Parola, has come under scrutiny due to concerns over its fairness to the city.
In an interview with Bombo Radyo, Treñas emphasized that he had worked hard during his term to acquire the land from the Philippine Coast Guard for the city. He also pointed out that the 2012 agreement was “grossly disadvantageous” to the Iloilo City Government. However, he was unable to take action at the time as his term had already ended.
Treñas, who served as Iloilo City’s Lone District Representative from 2010, was succeeded by Mabilog as mayor. One of the primary concerns in the agreement is the city’s revenue share from the terminal, which remains at just one percent of the gross terminal income or approximately ₱200,868 per year for 25 years.
This is seen as unfavorable to the city, which owns the 10,687-square-meter land where the terminal is located. The value of this land has significantly increased from ₱51.65 million in 2012 to ₱183.35 million in 2024. Meanwhile, the commercial building constructed within the terminal is now valued at ₱105.66 million.
The city has also raised concerns over the agreement’s lack of transparency, particularly regarding the construction of commercial buildings, which were not included in the corporation’s proposal. Furthermore, the required master development plan under the joint venture agreement was never submitted.
It was also discovered that the corporation failed to submit annual reports on the project’s operations, which is a requirement under the agreement.
In response, Mabilog defended the 2012 joint venture agreement, saying it was beneficial to the city at the time, when Iloilo was not yet considered a booming economic hub. However, Treñas questioned this claim.
The former mayor also clarified that the city did not spend a single centavo nor take out loans for the project.
-𝗪𝗶𝘁𝗵 𝗮 𝗿𝗲𝗽𝗼𝗿𝘁 𝗳𝗿𝗼𝗺 𝗕𝗼𝗺𝗯𝗼 𝗔𝗻𝗴𝗲𝗹 𝗧𝗮𝗻
