BCDA revenue hits P11.3B in 2024

The Bases Conversion and Development Authority (BCDA) reported a 3% increase in its 2024 revenue, totaling P11.3 billion. This growth was primarily driven by the corporation's joint venture agreement for a mixed-use development project in Taguig City.

In a statement, BCDA described its financial performance as steady and positive. The key factor behind the revenue boost was the successful execution of the JV agreement for a 6.1-hectare project in the Bonifacio Capital District, which brought in an initial payment of P3.5 billion.

Additionally, the BCDA saw a 39% rise in toll and airport concession revenues, reaching P3.2 billion, while dividends from its affiliates rose by 48% to P1 billion.

Joshua M. Bingcang, President and CEO of BCDA, highlighted the importance of partnerships and efficient revenue generation efforts in maintaining strong financial performance. "This positive outcome allows us to continue supporting our beneficiary agencies, particularly the military," Bingcang said.

Looking ahead, the BCDA expects to maintain revenue levels above P10 billion in 2025, continuing its efforts to fund important projects and benefit stakeholders, especially the country’s military.

In a separate statement, BCDA addressed concerns over misinterpretations of a Supreme Court ruling regarding Camp John Hay. The court's decision grants BCDA control over the area, which is expected to spur investment and redevelopment, contributing to long-term economic growth.