The Bases Conversion and Development Authority (BCDA) will receive at least P85 million in investments for new leisure, recreation, and tourism developments in northern Luzon across its two estates.
Specifically, BCDA’s Clark estate in Pampanga will soon house a resort that Grace Farm Nature Resort Corp. will develop under a 15-year lease agreement.
Additionally, the company has committed to invest at least P50 million in developing, constructing, and improving the resort within the initial lease period.
Meanwhile, the BCDA is set to develop a restaurant and an adventure park in Camp John Hay, Baguio City, under separate lease agreements.
On one hand, Zoo and Theme Park Services Inc. secured a lease agreement to develop a 5.8-hectare integrated educational family adventure park at the former American military base. It also plans to build a botanical garden and a cultural heritage site in the area.
Likewise, the company has committed to invest at least P20 million in the project within 10 years of contract signing.
‘We hope that through this initiative, we can contribute to the growth of tourism in Camp John Hay and create opportunities for the community,’ said Ren Christopher Siccion, business development head at Zoo and Theme Park Services.
At the same time, Anrey Inc. will lease a 500-square-meter property in Camp John Hay to open a new branch of Sizzling Plate, a Baguio-based restaurant brand that has been serving customers for 47 years.
BCDA said Anrey had committed to invest at least P15 million in the restaurant’s development within one year of contract signing.
Meanwhile, the state-run corporation expects the three projects to generate additional economic activity and employment opportunities in Pampanga and Baguio.
‘Through these lease agreements, we are opening more opportunities for private sector partners to invest in BCDA properties and develop facilities that respond to the needs of visitors, businesses, and surrounding communities,’ BCDA president and CEO Joshua Bingcang said in a statement.
While it did not provide job generation estimates for each project, BCDA said the lease agreements would help ‘maximize’ the economic potential of its properties.
In addition to Clark and Camp John Hay, BCDA also manages Bonifacio Global City in Taguig, Poro Point Freeport in La Union, Morong Discovery Park in Bataan, and New Clark City in Tarlac.