BCDA offers 25-year lease to new Camp John Hay tenants 

Following the Bases Conversion and Development Authority’s (BCDA) takeover of the Camp John Hay (CJH) in Baguio City from the private sector, CJH tenants were encouraged to sign new lease contracts with the government-owned and controlled corporation (GOCC) as the latter will grant a fresh 25-year contract that is extendable for another 25 years, according to a report by Philippine News Agency.

BCDA President and Chief Executive Officer Joshua Bingcang said in an interview with ANC Monday that his team has already talked to around 20 tenants to enter into a new agreement with the BCDA, and will be in discussion with a hundred or more tenants in less than a month.

“They said they are willing to sign new contracts with us as long as they will be allowed to, or they'll continue to stay inside the camp. So it's a recognition also on the part of government that this private sector is willing to have a more certain and stable agreement with them because we're telling them should you enter a new agreement with the BCBA, you will be given a fresh 25 years plus extendable to another 25 years. So that will mean stability on their continued stay inside,” Bingcang said.

The BCDA chief said it has also entered into a short-term interim operations and maintenance (O&M) deal with the MVP Group of tycoon Manuel V. Pangilinan upon the CJH takeover while looking for a long-term O&M contract.

CJH still has up to 70 hectares of idle land, and the BCDA will be entering into a public-private partnership (PPP) arrangement to develop this area.

Bingcang said the BCDA will be updating the CJH masterplan, which is up for review every five years, that will include Sustainable Development Goals (SDG).

He cited that among the infrastructure projects that the BCDA will be implementing within CJH are the installation of solar lamps, road and sidewalk improvement, and a mass transportation system to address traffic problems in Baguio City during peak season.

Effective Jan. 6, the BCDA gained control of the 247-hectare John Hay Special Economic Zone (JHSEZ) following the Baguio City Regional Trial Court’s enforcement of the Supreme Court’s ruling that the CJH Development Corp. should vacate and turn over the property to the government.

Tags:

Real estate is no longer just Location, Location, Location. 
Now, it’s about Location, Information…and Timing! 

- Alejandro Manalac, Executive Publisher
 

View all posts

Leave a Comment

Subscribe to our Newsletter for Free!

Subscribe to our newsletter to receive the latest real estate news.