BCDA’s revenues top P11 billion in 2024

The Bases Conversion and Development Authority (BCDA) said its gross revenues surpassed P11 billion in 2024, driven by a joint venture deal for a mixed-use development in Taguig City.

Gross revenues rose 3% to P11.3 billion pesos in 2024 from P10.9 billion in 2023, the agency said in a statement.

The joint venture agreement for the 6.1-hectare mixed-use development in Bonifacio Capital District in Taguig yielded an initial payment of P3.5 billion pesos to the BCDA.

Toll and airport concession revenues increased to P3.2 billion in 2024 from P2.3 billion in 2023. Dividends from BCDA affiliates also grew to P1 billion from P675 million.

"Through collaboration with partners and efficient revenue generation efforts, the BCDA wrapped up 2024 as another banner year, sustaining good financial performance," BCDA President and Chief Executive Officer Joshua M. Bingcang said in the statement.

Bingcang said the agency expects revenues to remain above P10 billion in 2025, reflecting continued efforts to foster strong partnerships and implement projects that fuel economic growth.

"We are committed to continue generating strong revenues, as this will allow us to boost our support for our beneficiary agencies and stakeholders, especially our military forces," Bingcang said.

The BCDA transforms former military camps into centers of economic growth, generating income through sales, leases, joint ventures, concession fees, and other receipts.

Portions of these proceeds are remitted to the Bureau of the Treasury through dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies. A share of the earnings are also used to fund BCDA infrastructure projects.