BCDA bags P1-B investments from Camp John Hay takeover

The Bases Conversion and Development Authority (BCDA) said it has received P1-billion in investments from lease agreements in Camp John Hay in Baguio, nearly two months after the agency took control of the former American military base.

According to the BCDA, it signed 75 lease agreements, majority or 70 were residential lease agreements inked with local and foreign nationals.

The lease agreements also include commercial arrangements with Metro Pacific Investments Corp. (MPIC) subsidiary Landco Pacific Corp., Stern Real Estate Development Corp., Amare La Cucina, Golfplus Management Inc. (GMI), DuckWorld Philippines, and Top Taste Trading Inc.

“Numbers don’t lie. Breaching a billion mark in just two months is proof that Camp John Hay is thriving as more and more investors are seeing its potential of becoming the country’s next ecotourism and investment hub under the management of BCDA,” president and chief executive officer Joshua Bingcang said.

“More exciting things will be announced soon, as we set to close more contracts and deals in the next weeks,” he added.

The BCDA took control of Camp John Hay in January, after the Baguio Regional Trial Court in an order dated January 3, 2025 upheld the Supreme Court ruling and junked Camp John Hay Development Corp.’s (CJH DevCo) appeal to prevent the full return of the property.

Under the order, all land and improvements in the property, whether directly held by CJH DevCo., its subsidiaries and/or affiliates or occupied/held by other individuals or parties claiming rights under them, must be turned over to the BCDA.

The BCDA earlier said it is looking to hit P10-billion worth of investments following the takeover, as it plans to offer 70 hectares of untapped land in the area to the private sector.

The agency is mandated to help strengthen the Armed Forces of the Philippines (AFP) while building cities. It also engaged in public-private partnerships to boost public infrastructure such as tollways, airports, seaports, and major real estate developments.

It ended 2024 with P11.3 billion in revenues, up 3% from the previous year, mainly driven by the joint venture deal for a 6.1-hectare mixed-use development in Taguig City. — Jon Viktor Cabuenas/RF, GMA Integrated News