Optimism is the buzzword at the Bases Conversion and Development Authority (BCDA), that it can sustain revenue levels over the P10-billion mark this year, its president and chief executive officer Joshua Bingcang said.
Its gross revenues breached P11 billion in 2024.
“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 in a statement.
Under Republic Act 7227 or the Bases Conversion and Development Act, the BCDA is mandated to repurpose former military camps into economic growth centers and generate income through proceeds from sale, lease, and joint venture, as well as concession fees.
Portions of its earnings are remitted to the Bureau of the Treasury in the form of dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies. Some of the earnings will fund BCDA’s infrastructure projects, to strengthen and boost competitiveness of economic zones.
The BCDA said revenues in 2024 were mainly driven by the joint venture deal for a 6.1-hectare, mixed-use development in Taguig City.
n a public disclosure in August last year, Robinsons Land Corp. said it has partnered with BCDA to develop the Bonifacio Capital District.
CDA’s gross revenues rose by 3.6 percent to P11.3 billion in 2024 from P10.9 billion in 2023.
This positive financial performance was the result of a joint venture for the development of the 6.1-hectare, mixed-use development in Bonifacio Capital District in Taguig, which yielded an initial payment of P3.5 billion to the BCDA.
Its toll and airport concession revenues rose by P925 million or 40 percent to P 3.2 billion in 2024 from P 2.3 billion in 2023. Dividends from affiliates also grew by P325 million or 48 percent to P1 billion from P675 million in the same comparable period.
Its partnership collaboration gave the BCDA another banner year in 2024, sustaining good financial performance over the years.
This is fueled by our mission to build world-class cities and implement game-changing projects for the benefit of the Filipino people,” Bingcang said.
The BCDA also receives dividend earnings and proceeds from lease agreements and joint ventures from the JUSMAG property, and the Fort Bonifacio Development Corp. and from toll operations of the Subic-Clark-Tarlac expressway.
