The Bases Conversion and Development Authority (BCDA) seeks to triple the annual lease on the property occupied by the Ninoy Aquino International Airport (NAIA) Terminal 3.
Joshua Bingcang, BCDA president and chief executive officer, told reporters the agency has reiterated its offer to the Manila International Airport Authority (MIAA) to buy the 60-hectare property which has a zonal value of P50 billion.
Bingcang said another option is to renew the lease for another 25 years at P600 million per year from P200 million per year in the previous 25-year contract that ended last year.
“The price in 1997 is different now,” he said.
Bingcang assured this will not result in higher terminal fees since these fees are regulated.
“They will have to get it from commercial revenues not just from passengers, they cannot just the terminal fees,”
Bingcang was set to meet with MIAA general manager Eric Jose Castro last week to tackle the matter.
