MANILA, Philippines — State-run Bases Conversion and Development Authority (BCDA) along with its subsidiary John Hay Management Corp. (JHMC) are inviting bidders for the long-term lease of three log home units at Voice of America (VOA) at Camp John Hay, Baguio City.
In a statement, the BCDA said units three, nine and 20A of the VOA log homes are open for bids for a lease period of 25 or 50 years, as part of the BCDA and JHMC’s joint assets disposition program.
The log homes have a minimum bid price of P2.51 million for the initial one-year lease of each property.
“Showcasing Camp John Hay’s scenic landscape full of pine trees, rich flora and fauna, and peaceful residential neighborhood, the VOA Estate is the ideal place for individuals and families looking for nice vacation or retirement homes, or corporations looking for housing for their executives and staff,” BCDA president and CEO Joshua Bingcang said.
“With the opening of this bidding, interested parties may now get the opportunity to lease these prime properties,” he said.
The VOA log homes are located north of the John Hay Special Economic Zone (JHSEZ) and is accessible through Loakan Road.
The properties, which were constructed in 2000 on BCDA-owned land within JHSEZ, underwent renovation last year.
The BCDA said each unit has a uniform floor area of 590 square meters, complete with basic amenities, such as master and guest rooms, bathroom, living and dining areas, kitchen, balcony, and a garage.
These are also furnished with fireplaces, saunas, and bathtubs fit for Baguio City’s cold weather.
Eligible bidders include individuals, cooperatives, or corporations that are duly registered under the Department of Trade and Industry (DTI), Cooperatives Development Authority (CDA), or the Securities and Exchange Commission.
The terms of reference for the bidding have been available for purchase starting Aug. 29. A pre-bid conference and site tour has been scheduled on Sept. 14 at 10 a.m. at Camp John Hay.
Participants may submit bid documents containing eligibility documents and financial proposals until 12 p.m. on Oct. 10, at the BCDA Corporate Center in Bonifacio Global City, Taguig.
The winning bidder has the option to pay the full amount of the winning bid for the present value of the 25- or 50-year leasehold rights over the unit. They may also opt to pay in installment, with at least 20 percent of the winning bid as non-refundable down payment.
The balance may be amortized for a period of five years, 10 years, or 15 years, with an interest rate per annum or six percent, eight percent, or 10 percent, respectively.
The BCDA said the assets disposition program is carried out pursuant to Republic Act 7227, which mandates the BCDA to accelerate the sound and balanced conversion of former military reservations into alternative productive uses.