BCDA revenues triple to P22.1B in 2024

The Bases Conversion and Development Authority (BCDA) recorded a significant leap in performance in 2024, posting total gross revenues of P22.1 billion—three times its P7.3 billion haul in 2023 and nearly double its initial P11 billion forecast.

In a statement released Tuesday, BCDA attributed the record-breaking figure to robust earnings from multiple sources, with a joint venture agreement contributing P13.9 billion—the single largest revenue stream for the year.

Revenues from service concessions surged to P3.4 billion from P2.5 billion in the previous year, bolstered by toll rate adjustments and continued growth in airport operations, including higher passenger volumes, cargo traffic, and flight activity.

Meanwhile, business and lease income climbed to P1.59 billion, further contributing to the agency’s financial momentum.

“With our consistent push for innovation, strategic partnerships, and responsible development, BCDA remains steadfast in its mission to build smart, sustainable communities and deliver transformative infrastructure for generations to come,” said BCDA President and CEO Joshua Bingcang.

“These revenues are not just figures. They represent opportunities for inclusive growth, quality jobs, and better lives for the Filipino people,” Bingcang emphasized.

Created under Republic Act No. 7227, the BCDA is mandated to repurpose former military bases and properties into hubs of economic growth. It generates income through land disposition, leases, joint ventures, and concession fees.

A portion of the revenues is remitted to the Bureau of the Treasury, supporting the Armed Forces of the Philippines' Modernization Program and other designated beneficiaries. The remainder is reinvested in infrastructure projects to enhance connectivity, strengthen economic zones, and attract further investment across the country.