CJH DEV. CO. MAINTAINS THAT IT WAS GRANTED A 25-YEAR LEASE WITH SOLE OPTION TO RENEW FOR ANOTHER 25 YEARS

March 4, 2025 JUST IN

“BCDA is fully aware of the 50-year term,” said CJHDEVCO in a statement, adding: “BCDA had its Chairman and some directors/officers on our Board from 2003 to 2012. They have had full knowledge of the lease agreement.” CJHDEVCO explained that BCDA knew very well the operations, which include the authority to sell properties with 50-year terms. BCDA as “beneficiary” “It was BCDA which instructed us to invite public investments in Camp John Hay, guaranteeing 50-year terms.

It also authorized us to sell on its behalf properties, dacioned as rental payments, with proceeds as sales to be received by BCDA,”CJHDEVCO said. In fact, BCDA accepted rental payments from CJHDEVCO in the form of 30 golf shares, 16 The Manor units, 10 The Forest Lodge units and five Log Homes with dacion values all computed under 50-year leasehold terms. In addition, the Limited Warranty Deeds issued to BCDA for The Manor and Forest Lodge Hotels contained 50-year leasehold term annotations. “Therefore, it is a beneficiary from the 50-year leases,” CJHDEVCO also said.

Breach of Contract Despite CJHDEVCO fulfilling its duties and obligations, the Arbitral Tribunal (AT) found BCDA in breach of the lease agreement from the beginning. As such, lease payments were suspended. The AT ordered BCDA to return rental payments made by CJHDEVCO. However, to date, BCDA, has not yet refunded the rental payments owed to CJHDEVCO. AT also ordered that the money and benefits already received by CJHDEVCO will compensate for whatever interests may due for BCDA’s use of CJHDEVCO’s money.

It also ruled that CJHDEVCO gets to keep money and benefits received, which include payments made by owners/investors for the improvements, as compensation for BCDA’s interest obligation. Caveat Emptor BCDA claims that its takeover is a win for the Filipino people because it will bring in new investments. But In reality, CJHDEVCI adds, “BCDA is evicting the Filipino people, who have already invested their life saving in Camp John Hay.” “Owners/Investors must assert their legal rights and demand that BCDA either honor their ownership or provide just compensation. Legal action should be taken to prevent BCDA from illegally seizing properties. BCDA must be held accountable for its abuse of power and betrayal of investor confidence.”