BCDA signs over 100 new John Hay leases

THE Bases Conversion and Development Authority (BCDA) on Tuesday announced it has signed over 100 residential lease agreements at Camp John Hay in Baguio City in only two months.

The agency said that the leases — which comprise 95 percent of residences in the tourist and commercial hub — were signed with foreign nationals, mostly Koreans. All contracts will be formalized this month.

"We are thrilled by the investors' overwhelming support, trust and recognition of BCDA's transformative power of repurposing state lands into spaces that fuel the nation's progress. Our promise is that, as we redevelop Camp John Hay, we will make sure that people and the planet are at the heart and center of our projects," BCDA president and CEO Joshua Bingcang said.

On Jan. 6, the Supreme Court ordered that management of the 247-hectare property, including all new constructions and permanent improvements, be returned to its administrator, BCDA, after the latter's protracted battle with its former operator, CJH Development Corp.

Since then, BCDA said it has clinched over P1 billion in new investments in John Hay, which means more economic opportunities for the local community.

A mix of major industry players and small- and medium-enterprises compose John Hay's new tenants, including Metro Pacific Investments Corp. subsidiary Landco Pacific, Stern Real Estate, Amare La Cucina, Golfplus Management, DuckWorld Philippines, and Top Taste Trading.

BCDA said it is revisiting the property's master development plan to align it with the United Nation's Sustainable Development Goals.