BCDA investments double to P64 billion

MANILA, Philippines — Investments approved by the Bases Conversion and Development Authority (BCDA) doubled from January to November, reflecting strong investor confidence.

In a statement, the BCDA said its approved investments jumped by 99.5 percent to P63.97 billion during the 11-month period from the P32.06 billion a year ago.

These investments are expected to provide 8,476 employment opportunities, 29 percent higher than the 6,565 jobs generated by the approved investments last year.

The growth is concentrated across BCDA-managed economic zones, particularly in New Clark City in Tarlac and Camp John Hay in Baguio.

Those that signed contracts with the BCDA this year are Eagle-K GC Corp.; Eagle-K RV Corp.; the consortium of Global Heavy Equipment & Construction Corp., ATD Waste-to-Energy Corp. and Uttamenergy Ltd.; Science Park of the Philippines Inc.; Sta. Clara International–Saekyung Realty and the Bangko Sentral ng Pilipinas for developments in New Clark City.

Meanwhile, investors that entered into contracts with the BCDA for developments in Camp John Hay are Istana Development Corp. and Meridian Commercial Centers Inc.; Ayala Land Inc.; Stern Real Estate; Top Taste and Trading Inc.; Amare La Cucina and Prime Collective Corp.

BCDA president and CEO Joshua Bingcang said the latest performance shows the growing investor confidence in its investments hubs.

“This achievement underscores BCDA’s vision to be the catalyst for a future where strategic infrastructure development translates into sustainable, investment-led growth, simultaneously creating the platform for more and better job opportunities for all Filipinos,” Bingcang said.

The BCDA is aiming to encourage more firms to invest in its master-planned developments.

“We remain optimistic and actively encourage our investors to partner with BCDA as we make a vital headway in our mission to contribute to national economic and inclusive development,” Bingcang said.

Earlier, he said that the BCDA aims to approve P70 billion worth of investments this year.

Created under Republic Act 7227, the BCDA is mandated to help strengthen the Armed Forces of the Philippines, while building great cities and creating economic opportunities through the establishment of integrated developments, business centers and communities.