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Manila Bulletin devider Business devider Trade & Industry devider BCDA pivots to lease deals to secure recurring cash

BCDA pivots to lease deals to secure recurring cash

Published Feb 16, 2026 12:00 am  |  Updated Feb 15, 2026 05:05 am
The Bases Conversion and Development Authority (BCDA) is sticking to its ₱10 billion revenue target for this year, even after significantly outperforming its goals in 2025, as the state-run agency pivots away from traditional land sales toward more sustainable income streams.
BCDA President and Chief Executive Officer Joshua Bingcang said the agency opted to maintain the ₱10 billion benchmark despite posting record cash revenues of ₱14.1 billion in the previous year.
He said the target aligns with the 2026 benchmark set by the Governance Commission for Government-Owned and Controlled Corporations (GCG) for BCDA, which is ₱8 billion.
“The target is still ₱10 billion because our land is depleting, so we're looking for non-traditional sources of revenue,” Bingcang said in a recent media roundtable.
Last year, the BCDA generated around ₱5 billion in cash revenues from land dispositions, which covers the right-of-way agreement it signed with the Department of Transportation (DOTr) for three stations of the Metro Manila Subway Project.
Meanwhile, around ₱3 billion of revenues were from the BCDA’s share in the toll collections of the Subic–Clark–Tarlac Expressway (SCTEX).
The remainder was derived from recurring income sources, including concession fees, lease arrangements, and investment-related receipts, across BCDA-administered economic zones.
This year, Bingcang said the BCDA is keen to leverage lease deals to continue generating revenue without losing control of its assets.
“So come high or low season, you’ll have something to draw from, it’s like passive income,” he said.
One of the deals that the BCDA looks to secure this year is the ₱15-billion unsolicited proposal from South Korean government-run Korea Water Resources Group and west zone concessionaire Maynilad Water Services Inc. to operate the water and wastewater services of New Clark City in Tarlac.
“These utilities are long-term. They're not like one-time, big-time [such as] real estate,” said Bingcang.
By April, the BCDA is looking to onboard one of four shortlisted international companies seeking to develop the San Fernando Seaport, located in the agency’s Poro Point Freeport Zone in La Union.
The agency aims to develop the port into a modern logistics hub starting next year, which is expected to generate revenues from lease agreements within the site.
In addition, it has earmarked ₱50 million to build a new terminal for the San Fernando Airport as part of a plan to make it commercial-grade as early as the fourth quarter of 2027.
While the revenue target remains unchanged, Bingcang said the BCDA will likely remit a larger portion of its revenues to the Armed Forces of the Philippines (AFP).
For last year, around ₱3.29 billion, or nearly a quarter of total cash revenues, is expected to be remitted for the AFP’s modernization program.
Under Republic Act (RA) No. 7227, the BCDA is tasked with transforming former military camps into centers of economic growth.
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