BCDA revenues hit P11B in 2024

INQUIRER FILE PHOTO

MANILA, Philippines —The Bases Conversion and Development Authority (BCDA) reported gross revenues hitting the P11-billion mark in 2024, the highest level in the past six years.

The government-owned and -controlled corporation said 2024 was a “banner year,” as gross revenues marked a 3-percent increase compared with the P10.9 billion recorded in 2023.

“Through collaboration with partners that share our vision and efficient revenue generation efforts, the BCDA wrapped up 2024 as another banner year for the organization, sustaining good financial performance over the years,” BCDA president and chief executive officer Joshua Bingcang said in a statement.

“This is fueled by our mission to build world-class cities and implement game-changing projects for the benefit of the Filipino people,” he added.

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In particular, the BCDA attributed steady growth and positive financial performance in 2024 to the execution of a joint venture agreement for the development of the 6.1-hectare mixed-use development in Bonifacio Capital District in Taguig.

The BCDA said the transaction had yielded an initial payment of P3.5 billion.

Based on annual reports on the BCDA website, gross revenues are at their highest since 2018.

The BCDA also touted the increase in its toll and airport concession revenues, which added P925 million from the past year to reach P3.2 billion in 2024.

Dividends from its affiliates also grew by P325 million to P1 billion in 2024.

Sustaining performance

Looking forward, Bingcang expressed optimism that the BCDA would continue to sustain its revenue levels, with earnings projected to remain above P10 billion this year.

“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,” he said.

The BCDA, under its mandate through Republic Act No. 7227, transforms former military camps into centers of economic growth.
It aims to generate income through disposition proceeds from sales, leases, and joint ventures, as well as concession fees and other receipts.

A percentage 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.