BCDA, MIAA seal P48-billion NAIA 3 property deal

MANILA — The Bases Conversion and Development Authority (BCDA) has secured a P48-billion agreement with the Manila International Airport Authority (MIAA) for the transfer of ownership of the 61-hectare property occupied by Ninoy Aquino International Airport (NAIA) Terminal 3, a transaction government officials said would fund infrastructure projects while supporting the airport’s long-term expansion plans.

The agreement, formally marked during a ceremonial signing on June 11, transfers ownership of the land and related infrastructure from BCDA to MIAA after years of negotiations between the two state agencies, according to a joint statement.

Under the arrangement, MIAA will pay BCDA P48 billion, consisting of an initial P10-billion down payment and the remaining balance through semi-annual installments over 15 years.

Government officials said the transaction is expected to strengthen MIAA’s capacity to undertake long-term modernization and expansion initiatives at NAIA while providing BCDA with additional resources for infrastructure and economic development projects.

MIAA General Manager Eric Jose C. Ines described the acquisition as a strategic investment that would provide greater certainty for long-term planning and asset management at the country’s main international gateway.

“By securing ownership of the Terminal 3 property, MIAA strengthens its stewardship of a strategic government asset and reinforces its ability to support the long-term development of the country’s premier gateway,” Ines said in the statement.

The acquisition comes as passenger traffic continues to recover and expand. According to the joint statement, NAIA handled 27 million passengers in 2025, underscoring the need for continued investment in airport facilities and capacity enhancements.

MIAA said ownership of the property would support future upgrades, expansion projects and modernization efforts aimed at improving operational efficiency and passenger services.

The transaction also aligns with the government’s broader transport modernization agenda under President Ferdinand Marcos Jr., implemented through the Department of Transportation.

For BCDA, proceeds from the sale will support its mandate under Republic Act No. 7227, which created the agency to convert former U.S. military reservations into centers of economic activity and investment.

BCDA President and Chief Executive Officer Joshua M. Bingcang said the agreement was designed to maximize the value of public assets while generating resources for national development.

“This agreement is the result of years of careful work to ensure that the Filipino people receive the greatest possible value from this public asset,” Bingcang said.

BCDA said revenues from land sales, leases, joint ventures and concessions are used to support infrastructure development across its economic zones, while portions are remitted to the national government and beneficiary agencies, including the Armed Forces of the Philippines.

The transaction also comes as MIAA continues its regulatory and oversight role following the implementation of the NAIA Public-Private Partnership project in September 2024.

Under the arrangement, airport assets remain government-owned while operations, maintenance and development activities are undertaken by a private concessionaire.

Officials from both agencies said the transfer is expected to support the long-term sustainability and development of NAIA as the country’s primary international gateway.

(This report is based on information jointly released by the Bases Conversion and Development Authority and the Manila International Airport Authority.)