The Bases Conversion and Development Authority (BCDA) has signed a 25-year contract agreement with property giant Ayala Land Inc. (ALI), for the lease of the John Hay Technohub (also known as Ayala Technohub) in Camp John Hay, Baguio City.
This prime property is projected to boost revenues for the government and will continue to provide employment for the local community.
“This partnership ensures that business continues to thrive smoothly while we build a stronger, brighter future for all. It reflects the deep trust and confidence that respected companies like Ayala place in government. At BCDA, we are living up to our promise to keep Camp John Hay a place where great things happen,” BCDA President and CEO Engr. Joshua M. Bingcang said.
Under the terms of the agreement, the property will continue to serve its current purpose, providing stability for the existing business while paving the way for broader economic gains.
Ayala Land, a seasoned player in property development, has been instrumental in shaping the John Hay TechnoHub. This includes not only a conducive business process outsourcing (BPO) building but also vibrant retail clusters.
For the BCDA, the partnership represents a significant strategic advantage, with projections indicating an estimated Php600 million in generated revenues. This fiscal benefit is further underscored by the demonstrated success in land value capture, which has averaged an impressive 14% across Ayala developments.
Beyond the fiscal benefits, the agreement will continue to provide more employment opportunities to the local community, thereby providing a considerable uplift in job stability in the area, which currently employs 3,000.
The partnership emphasizes a commitment to maximizing the utility of existing assets, attracting fresh investments, and critically, cultivating a resilient and sustainable economic ecosystem for the benefit of the Filipino people.
Since it recovered Camp John Hay property in January, the BCDA bagged over Php1.4 billion in investments from new commercial and residential lease agreements, signaling strong investor confidence in the organization’s track record.
