THE BASES Conversion and Development Authority (BCDA) has signed a 15-year commercial lease agreement with Amare La Cucina and Top Taste and Trading, Inc.
BCDA President and Chief Executive Officer Joshua M. Bingcang said the newly signed contract reflects a vote of confidence from investors after the change of management in Camp John Hay (CJH).
“Our vision for CJH is to provide enterprises of all sizes an environment where they can all thrive and empower the local community with more employment opportunities,” he said in a statement on Monday.
The BCDA signed the contracts with the homegrown pizzeria and specialty café and restaurant on Jan. 8 following the successful recovery of the CJH property.
The contract with Amare La Cucina covers the lease for a 1,500-square-meter lot, while the deal with Top Taste and Trading, Inc. is for the lease of an 800-square-meter property.
Aside from the commercial lease contracts, BCDA also signed its first long-term residential lease agreement with Victorino “Ricky” Vargas, a director at Metro Pacific Investment Corp.
The 25-year residential lease contract involves two Forest Cabin units that were previously leased with CJH Development Corp. (DevCo).
The BCDA regained control over the 247-hectare CJH property after a notice to vacate was served to CJH DevCo last week.
It followed the ruling of the Supreme Court on Dec. 12, which upheld an arbitral ruling that ordered CJH DevCo to vacate the property it leased from BCDA.
“While we are setting up a positive climate for enterprises and the people, we also want to assure the local community that we will preserve and protect the forest watershed of CJH, as the remaining lung of the city,” said Mr. Bingcang. — Justine Irish D. Tabile
