LISTED property developer Ayala Land, Inc. (ALI) has signed a 25-year lease agreement with the Bases Conversion and Development Authority (BCDA) to continue operating the Camp John Hay Technohub in Baguio City.
The lease agreement is projected to generate P600 million in revenue, BCDA said in an e-mail statement on Tuesday.
It will also sustain job stability in the property, which currently employs 3,000 workers. The technohub houses retail clusters and a business process outsourcing building.
BCDA also anticipates a boost in land value capture, which has averaged 14% across Ayala developments.
“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,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.
“At BCDA, we are living up to our promise to keep Camp John Hay a place where great things happen,” he added.
Since recovering the Camp John Hay property in January, BCDA has secured more than P14 billion in investments from new commercial and residential lease agreements.
In a separate statement, ALI said it is collaborating with AC Mobility, Makati Central Estate Association, and the Makati City government to launch the country’s largest electric vehicle (EV) charging network.
Makati City aims to grow its network to more than 100 charge points in 22 locations as part of its sustainability commitment.
ALI said users will soon gain EV charging access in areas such as One Ayala, Greenbelt, Glorietta, Tower One, and key carparks including Valero, Dela Rosa, and Corinthian.
Makati City currently has 70 charge points in 16 locations. It will be the home of the first-ever super fast chargers in the country.
For the first quarter, ALI grew its net income by 10% to P6.9 billion. Consolidated revenue increased by 6% to P43.6 billion, led by stronger leasing operations and property development revenue.
ALI shares rose by 1.71%, or 40 centavos, to close at P23.85 per share on Tuesday. — Revin Mikhael D. Ochave
