BCDA inks commercial, residential leases

MANILA, Philippines — State-run Bases Conversion and Development Authority (BCDA) has entered into lease agreements with a pizza chain and a specialty cafe and restaurant for commercial lots, as well as with a Metro Pacific Investments Corp. (MPIC) executive for a residential lease in Camp John Hay.

In a statement yesterday, the BCDA said it signed a 15-year commercial lease agreement with Baguio’s homegrown pizzeria Amare La Cucina for a 1,500-square-meter lot in the former military base.

It also inked an agreement with Top Taste and Trading Inc. for the lease of an 800-square-meter property in Camp John Hay.

Prior to the signing of the commercial lease contracts, the BCDA signed a 25-year residential lease agreement with MPIC director Victorico “Ricky” Vargas for two Forest Cabin units.

Vargas previously leased the Forest Cabin units with CJH Development Corp. (CJH DevCo).

The signing of the lease agreements follows the BCDA’s successful recovery of Camp John Hay.

This was made possible by a Supreme Court (SC) ruling allowing the government-owned and -controlled corporation to recover the 247-hectare Camp John Hay property from CJH DevCo.

Earlier this month, an order was issued by the Baguio Regional Trial Court, which upheld the SC ruling.

Last week, Camp John Hay’s legacy hotels were turned over to Manuel V. Pangilinan-led Landco Pacific Corp., which is handling the interim management of the property as BCDA prepares its transition to a new private partner.

The BCDA said the fresh commercial lease agreements reflect the strong interest and vote of confidence coming from investors, including small- and medium-scale enterprises with the change of management in Camp John Hay.

“We are happy and excited that more enterprises are wanting to set up business in Camp John Hay because of the trust they have for BCDA. Our vision for Camp John Hay is to provide enterprises of all sizes an environment where they can all thrive and empower the local community with more employment opportunities,” BCDA president and CEO Joshua Bingcang said.

“While we are setting up a positive climate for enterprises and the people, we also want to assure the local community that we will preserve and protect the forest watershed of Camp John Hay, as the remaining lung of the city,” he also said.