State-run Bases Conversion and Development Authority (BCDA) landed its first long-term residential lease with Metro Pacific Investment Corp. (MPIC).
MPIC director Victorico Vargas signed the lease on behalf of the company, signaling the start of the redevelopment of Camp John Hay as a premier investment and tourism destination.
“BCDA remains fully committed to ensuring that your conditions will improve even more in the years ahead. Our goal is not only to grow together but to provide a stable and thriving environment for all our partners,” said BCDA president and chief executive Joshua Bingcang.
Vargas signed a 25-year lease agreement for two Forest Cabin units following the Supreme Court’s ruling that allowed BCDA to recover the Camp John Hay property.
The units were previously leased through CJH Development Corp. (CJH DevCo).
BCDA said the partnership would help reinforce investor confidence to push the company’s vision and commitment to transforming John Hay.
Spanning 247 hectares, the Camp John Hay Forest Cabin complex features 56 premium residential units, each averaging 270 square meters, blending modern living with Baguio’s natural beauty and eco-tourism charm.
Bingcang hinted at more agreements of this kind soon.
He urged former CJH DevCo leaseholders to engage with BCDA for a seamless transition, following the Supreme Court’s Dec. 12, 2024 decision to uphold an arbitral ruling ordering CJH DevCo to vacate the property.
BCDA chairperson Hilario Paredes earlier credited the whole-of-government approach for the recovery of Camp John Hay.
“I am grateful that the recovery of Camp John Hay was lightning quick and very peaceful, with very minimal or almost no disruption to businesses and their employees and guests. It was a very successful undertaking despite the very complicated nature of taking over control and possession of a 247-hectare property,” he said.
He commended the dedication of BCDA and John Hay Management Corp. (JHMC) personnel, as well as the professionalism of Baguio City Regional Trial Court sheriffs and the Philippine National Police (PNP) in ensuring peace and security throughout the operation.
“This is indeed a huge victory for the government and the Filipino people, a historic achievement and enduring legacy of everyone who made this a reality,” Paredes said.
