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Manila Bulletin devider Business devider Trade & Industry devider MIAA buys NAIA Terminal 3 land from BCDA for ₱48 billion

MIAA buys NAIA Terminal 3 land from BCDA for ₱48 billion

Published Jun 12, 2026 11:11 am
The Bases Conversion and Development Authority (BCDA) has signed an agreement with the regulator of the Ninoy Aquino International Airport (NAIA) for the sale of the Terminal 3 property worth nearly ₱50 billion.
The BCDA said it transferred the 61-hectare property occupied by NAIA Terminal 3 to the Manila International Airport Authority (MIAA) following a ceremonial signing on Thursday, June 11.
Under the disposition deal, MIAA will pay the investment promotion agency a total of ₱48 billion. This includes an initial down payment of ₱10 billion, with the remaining balance to be paid in semi-annual installments over a 15-year period.
MIAA General Manager Eric Jose Ines said owning the land housing NAIA Terminal 3 will enable the regulator to pursue substantial investments to support the ongoing modernization of the country’s primary gateway.
“This acquisition provides greater certainty for long-term planning, sound asset management, and the continued advancement of Philippine aviation,” Ines said.
While the operations and maintenance of NAIA are now under the helm of New NAIA Infra Corp. (NNIC), MIAA retains ownership of the airport assets and serves as the regulatory body overseeing the government’s concession agreement with the private operator.
“As we continue to strengthen our role as a regulatory and oversight institution, securing ownership of the Terminal 3 property further reinforces our responsibility as steward of the country's premier gateway,” Ines added.
As passenger traffic continues to grow despite global headwinds, the agreement is expected to place MIAA in a strong position to fast-track expansion projects to meet the increasing demand for air travel.
NAIA Terminal 3 is the busiest terminal at the airport, serving a record 27.44 million passengers last year and accounting for more than half of the total passenger volume of 52.11 million, according to MIAA data.
For the BCDA, the agreement unlocks a major revenue source for the state-run firm to support infrastructure development across its economic zones.
“This is a practical, forward-looking solution that delivers benefits both today and for future generations,” said BCDA President and Chief Executive Officer Joshua Bingcang.
Under Republic Act No. 7227, or the Bases Conversion and Development Act, the agency is tasked with transforming former military bases into centers of economic growth to generate state revenues.
The proceeds are remitted to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies, while the remainder funds the development of BCDA properties.
Last year, the BCDA’s cash revenues increased by nearly 21 percent to ₱14.1 billion, up from the ₱11.6 billion recorded in 2024.

Related Tags

Bases Conversion and Development Authority (BCDA) Ninoy Aquino International Airport (NAIA)
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