State-run Bases Conversion and Development Authority (BCDA) said it signed three more long-term residential leases for Camp John Hay cabins in Baguio City following the change in management.
The BCDA said it secured three new 25-year residential lease agreements with private individuals for a 427-square-meter country estate unit, a 449-sq. m. country homes unit and 275-sq. m. forest cabin in Camp John Hay.
“This development is a step ahead of realizing our vision for Camp John Hay as a community where businesses and people thrive; all while ensuring that the area’s forests are protected and preserved,” said BCDA president and chief executive Joshua Bingcang.
He said more lease agreements with both commercial and residential lessors are expected to be signed soon.
BCDA earlier signed 15-year commercial lease agreements with Amare La Cucina, Baguio’s most successful homegrown pizza chain, for a 1,500-sq.m. lot and with Top Taste and Trading Inc., a specialty cafe and restaurant, for the lease of an 800-sq. m. property in Camp John Hay.
BCDA and Metro Pacific Investment Corp. director Victorico Vargas also signed a fresh 25-year residential lease contract for two forest cabin units.
Stern Real Estate and Development Corporation also signed a 25-year commercial lease with BCDA to continue the operations of Le Monet Hotel and Filling Station.
The redevelopment plans of BCDA for Camp John Hay came after the Supreme Court decision voiding CJH Development Corp.’s lease.