BCDA targets P10 billion revenues this year

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February 16, 2026 | 12:00am

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) is aiming to generate P10 billion worth of revenues this year, lower than last year’s P14.1 billion, as it looks to tap non-traditional income sources amid a depleting land bank.

While the P10-billion target is lower than last year’s performance, it is actually higher than the P8-billion goal given by the Governance Commission for GOCCs (government-owned and controlled corporations) to the investment promotion agency, BCDA president and CEO Joshua Bingcang said.

“Remember, land is depleting. We’re looking for non-traditional sources of revenues,” he told reporters in a recent interview.

Unlike the disposition of real estate assets that provide a one-time gain for the BCDA, he said utilities are a source of stable and recurring revenue.

When it comes to real estate assets, he said the BCDA is now adopting a mix of sale and lease to retain ownership and continue generating revenue from the property.

BCDA’s revenues last year surpassed the P10 billion target by over 40 percent and were 20.9 percent higher than the P11.66 billion generated in 2024.

The BCDA’s revenues last year came from a combination of land dispositions, lease arrangements, concession fees and investment-related receipts across its economic zones.

Bingcang said that around P3.2 billion is expected to be remitted from BCDA’s revenues to support the Armed Forces of the Philippines’ modernization program.

With dividends, he said total remittances of the BCDA to the national government may reach P7 billion this year.

“But what I want is for us to spend it. As much as possible, we earmark it for our projects to really reinvest on the asset,” Bingcang said.

Among the projects being pursued by the BCDA is the development of the Poro Point Freeport Zone in La Union.

As part of the development of the Poro Point Freeport Zone, Bingcang said the BCDA is aiming for the construction of the new terminal in San Fernando Airport to start within the year.

The BCDA has earmarked P250 million for the new airport terminal, while P50 million has been allocated for the ongoing improvement of ancillary facilities.

Bingcang said the BCDA wants San Fernando Airport to start accommodating commercial flights by the last quarter of next year. The airport primarily caters to chartered flights and flying schools.

“We have cleared with CAAP (Civil Aviation Authority of the Philippines) how this runway can accommodate at least A320s. There is a technology they are recommending to us to deploy. It will be included in the bidding,” Bingcang said.

As for the modernization of the San Fernando Seaport, he said the BCDA aims to award the contract for the master planner this April and the contract for the new operator by the third quarter of next year.

At present, the San Fernando Airport is being managed by BCDA subsidiary Poro Point Management Corp., which took over after the expiration of the lease contract with former operator, Poro Point Industrial Corp. in October 2024.