BCDA shells out P2.68B for gov’t housing projects
State-owned Bases Conversion and Development Authority (BCDA) has turned over a total of P2.68 billion over the past 20 years for the country’s National Shelter Program (NSP), enabling more Filipinos to afford housing.
In a statement, BCDA president and CEO Arnel Paciano D. Casanova explained that the proceeds generated from the sale of former Metro Manila camps had not only funded the Military Modernization Program, but also provided decent housing.
Of the P2.68 billion, P1.88 billion was generated through the sale of former Metro Manila camps, the biggest of which are Fort Bonifacio and Villamor Air Base, now known as Bonifacio Global City and Newport City, respectively.
“The P1.88 billion has been remitted to the National Treasury,” Casanova said.
He noted that once BCDA has remitted the fund to the National Treasury, the use and distribution of the remittances become the responsibility of the Department of Budget and Management pursuant to the approved fiscal program of the government. DBM will then release the share to the respective government agencies to finance the National Shelter Program.
Meanwhile, the balance, comprising P805.66 million worth of properties, was turned over by the BCDA to the National Shelter Program.
Article continues after this advertisementThese properties are the Philippine Centennial Village, Lupang Katuparan and the BHIT Park, all in Taguig City.
Article continues after this advertisementThe properties, covering a total of 93.37 hectares, were declared socialized housing sites with mixed-use development by virtue of Executive Order (EO) No. 70, as amended by EO 465.
Casanova said that the BCDA’s sizable contributions to the NSP were made possible “through our strong performance in the disposition of state assets entrusted to the BCDA for mixed commercial-residential use.”
“The BCDA has been successful in forging viable partnerships with private businesses for the development of former military facilities and baselands within Metro Manila into high-end residential and commercial centers, with the Bonifacio Global City and Newport City as the centerpieces,” Casanova added.
