BIZ BUZZ: Camp-tivating deals
The Bases Conversion and Development Authority (BCDA) is making swift progress in resolving lease concerns at Camp John Hay, having signed over 100 lease agreements in a span of two months.
With 95 percent of residential unit issues now addressed, the government-owned and controlled corporation is on track to finalize all contracts by the end of the month.
Investor confidence seems to now be rising at the development hub, with several of the said leases signed by foreign nationals, particularly Koreans.
“We are thrilled by the overwhelming investor support and trust in BCDA’s vision. As we redevelop Camp John Hay, we are ensuring that both people and the planet remain at the heart of our projects,” BCDA president and chief executive officer Joshua Bingcang said.
The BCDA regained control of the historic former US military base on Jan. 6, following a landmark Supreme Court ruling that returned the property—and all its developments—back to the government.
