The return of control over Camp John Hay to Bases Conversion and Development Authority (BCDA) will unlock more investments, according to the state-run agency.
BCDA said the Supreme Court’s decision in favor of the agency will generate more investments, create jobs, boost the domestic economy and encourage local entrepreneurship.
“Camp John Hay will be open to all Filipinos, promoting inclusivity and social cohesion by reinvigorating and fostering various outdoor and indoor activities,” it said.
BCDA said the SC ruling paves the way for exciting redevelopment projects that will transform the area into a family- and community-oriented as well as world-class destination where one can commune with nature.
“Development balancing care for the environment and progress will uplift communities and enhance property values,” it said. “All stakeholders, businesses and community groups in Camp John Hay are thus urged to collaborate with BCDA to facilitate a seamless transition.”
Meanwhile, BCDA said 2024 was a banner year for the agency after its gross revenues breached the P11-billion mark, led by the joint venture deal for a 6.1-hectare mixed-use development in Taguig City.
It said gross revenues rose 3 percent to P11.3 billion in 2024 from P10.9 billion in 2023. The joint venture agreement for the 6.1-hectare mixed-use development in Bonifacio Capital District in Taguig yielded an initial payment of P3.5 billion to the BCDA.
Toll and airport concession revenues increased to P3.2 billion in 2024 from P2.3 billion in 2023. Dividends from BCDA affiliates also grew to P1 billion from P675 million.
“Through collaboration with partners and efficient revenue generation efforts, the BCDA wrapped up 2024 as another banner year, sustaining good financial performance,” BCDA president and chief executive Joshua Bingcang said in the statement.
Bingcang said the agency expects revenues to remain above P10 billion in 2025, reflecting continued efforts to foster strong partnerships and implement projects that fuel economic growth.
“We are committed to continue generating strong revenues, as this will allow us to boost our support for our beneficiary agencies and stakeholders, especially our military forces,” Bingcang said.
