BCDA approved P53.5-B projects in Jan-July
The Bases Conversion and Development Authority (BCDA) approved to P53.5 billion worth of investments in the seven months ending July, a 63.82-percent surge from P32.7 billion in the same period last year.
“These numbers represent opportunities for thousands of Filipinos and signal the private sector’s trust in our vision of building resilient, smart and inclusive cities,” BCDA president and CEO Joshua Bingcang said in a statement on Thursday.
The BCDA said these investments are expected to generate about 7,000 new jobs across the economic zones it manages. In particular, the jobs would be created in New Clark City in Tarlac City and Camp John Hay in Baguio City. The number of jobs would reflect a 6.2-percent rise from a year ago.
According to the BCDA, investor activity in these areas have significantly ramped up in the past months.
Some of the BCDA’s major investors in New Clark City during the period include Science Park of the Philippines Inc., Sta. Clara International Corp.–Saekyung Realty Corp. and Bangko Sentral ng Pilipinas.
Likewise, the BCDA welcomed Ayala Land, Stern Real Estate, Top Taste and Trading, Amare La Cucina and Prime Collective Corp. as partners for developments in Camp John Hay.
Science Park of the Philippines signed a 50-year lease agreement with the BCDA to develop a P2.7-billion industrial park in New Clark City. It will rise in a 100-hectare land.
A consortium of Sta. Clara International, Saekyung Realty and Korea Overseas Infrastructure and Urban Development Corp. is investing about P4.8 billion to build a 6.1-hectare affordable housing complex in New Clark City.
Meanwhile, the BCDA said it approved the detailed plan of the BSP’s 31.3-ha security complex, also in New Clark City. This will help decongest Metro Manila and redistribute economic activity.
Bingcang said the state-run corporation’s performance “underscores the growing momentum behind public-private partnerships in transforming government-owned developments into engines of economic growth.”
“As we drive progress in Central and Northern Luzon, we are proving that government-led development can attract private capital, unlock economic potential and transform entire regions,” he added.
The BCDA is mandated by law to transform former military camps into centers of growth. It generates revenues through land disposition, lease, joint ventures and concession fees.
The state-run firm reported gross revenues of P22.1 billion in 2024, triple the P7.3 billion recorded a year ago.
The BCDA had said that multiple income streams, led by gains from a joint venture agreement with a private developer amounting to P13.9 billion, fueled its profitability in the past year.
