GREAT BAY--Construction activity is now visible at the Philipsburg Marketplace reconstruction site, while government has confirmed that relief for affected vendors will be provided through the retroactive waiving of applicable license fees from the start of the project until its completion.
According to information provided by the Ministry of TEATT to Parliament, construction has commenced following completion of the revised design and receipt of an updated building permit. The contractor has mobilized on site and initiated foundation works, with visible activity now taking place at the location.
The Ministry said vendors who have been temporarily displaced by the project will receive relief through the waiving of applicable license fees. The waiver will apply retroactively from the commencement of the project and continue until the marketplace reconstruction is completed.
A definite completion date cannot yet be provided, according to the Ministry, although the project is expected to be completed by 2027. The Minister noted that all vendors have been affected, adding that the Marketplace has not been the same since 2017.
The total cost of the Philipsburg Marketplace Reconstruction stands at Cg. 3,458,676.62, reflecting cumulative costs associated with design revisions, construction, additional works ordered by VROMI and required consultant services. The Ministry clarified that government’s total capital contribution toward the reconstruction amounts to Cg. 1,019,970 for the full project.
In its wider financial reconciliation of the project, the Ministry also reported that government’s contribution totals approximately Cg. 1,627,021, while co-financiers are contributing approximately Cg. 1,831,656. Co-financing for the project is being administered through Port St. Maarten Group.
Project underwent multiple redesigns
The Ministry explained that the project has undergone no fewer than five design revisions and scope adjustments.
Since the original assignment was issued in April 2024, two changes were made to the design to address deficiencies in the previous version and incorporate requirements agreed upon by the relevant stakeholders, including the project’s co-financiers.
Following completion of the redesign process, government issued a new assignment to the contractor, allowing construction to proceed.
The project is being executed under the FIDIC Yellow Book framework, which governs contract variations and payment certification procedures.
Consultant engagements have included an architect, whose work has concluded, and an ongoing project management firm. The project management firm is responsible for ensuring compliance with FIDIC requirements, providing technical oversight and administering the contract in accordance with the revised Bill of Quantities.
Payments made to date have been based strictly on Interim Payment Certificates issued by the project management firm, according to the Ministry, ensuring that disbursements correspond with verified progress on the project.
Marketplace envisioned as Philipsburg landmark
Beyond the reconstruction itself, the Minister said the final vision is to transform the Philipsburg Marketplace into a modern, vibrant and culturally authentic commercial space that reflects St. Maarten’s identity.
Government intends for the completed marketplace to become a gold standard for marketplaces, with an emphasis on locally made products and an attractive, organized environment for residents and visitors.
The longer-term objective is for the Marketplace to develop into a regional staple and signature Philipsburg landmark, combining quality craftsmanship, cultural expression and a welcoming atmosphere while strengthening the overall visitor experience in the capital.
With foundation works now underway, the physical reconstruction has entered a more visible phase. For vendors who have experienced years of disruption, however, the project remains closely tied to both its eventual completion and the implementation of the promised retroactive fee relief.
