03/06/2026
Did the Government Profit from the Very Investors They Evicted?
Even after suspending rent in Camp John Hay, the developers continued to settle their obligations to the government. In May 2010, they transferred ownership of 26 fully operational condotel units directly to the BCDA. For years, the BCDA profited from the income generated by the very same development they were publicly calling a failure.
The ultimate betrayal, however, fell on the innocent third-party buyers. In a 2008 agreement, the BCDA explicitly guaranteed that if the project ever fell apart, these buyers would be safely protected by the government. Instead, when the legal battles escalated years later, the government turned around and issued eviction notices. They kept the properties and its income, but completely discarded the innocent investors they had legally sworn to defend.
Watch the full video for the complete context here: https://youtu.be/hP03xhOBgxw?si=9NJSTA4To1nfSzGz