BCDA’s Revenues Triple To PHP22.1B In 2024 From PHP7.3B In 2023

The Bases Conversion and Development Authority (BCDA) reported an impressive financial performance in 2024, generating total gross revenues of PHP22.1 billion—three times higher than the PHP7.3 billion recorded in 2023.

The increase was driven by multiple income streams, led by gains from a joint venture agreement with a private developer amounting to PHP13.9 billion. I Photo: The BCDA Group Facebook

The 2024 figure also far exceeds the agency’s projected yield of PHP11 billion.

According to the BCDA, the increase was driven by multiple income streams, led by gains from a joint venture agreement with a private developer amounting to PHP13.9 billion.

The agency also cited a rise in service concession revenues, which increased to PHP3.4 billion in 2024 from PHP2.5 billion in 2023, boosted by toll rate adjustments and robust growth in airport operations, including passenger traffic, cargo, and flights.

Business and lease income, meanwhile, reached PHP1.59 billion in 2024.

BCDA President and CEO Engr. Joshua M. Bingcang emphasized, “With our consistent push for innovation, strategic partnerships, and responsible development, BCDA remains steadfast in its mission to build smart, sustainable communities and deliver transformative infrastructure for generations to come.”

“These revenues are not just figures. They represent opportunities for inclusive growth, quality jobs, and better lives for the Filipino people,” he added, noting that the surge reflects BCDA’s expanding role in transforming former military bases into engines of national development and economic opportunity.

Under Republic Act No. 7227, also known as the Bases Conversion and Development Act of 1992, the BCDA is mandated to convert former military camps into centers of growth.

Revenues are generated through land disposition, leases, joint ventures, and concession fees.

The law also mandates that a portion of revenues be remitted to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines (AFP) for its Modernization Program, as well as to other beneficiary agencies.

The remaining funds are reinvested in infrastructure projects aimed at strengthening economic zones, improving regional connectivity, and attracting investments.

As of May 2025, BCDA’s remittances to the national government have already reached a record-high PHP2.04 billion.

This is in addition to its PHP3.13 billion remittance from asset disposition proceeds collected in 2024, to be distributed to several beneficiary agencies, including the AFP, and the PHP46 million in guarantee fees paid by BCDA to the Bureau of the Treasury (BTr).

This is in relation to the government’s loan from the Japan International Cooperation Agency (JICA) for the Subic-Clark-Tarlac Expressway Project. In total, these figures bring BCDA’s remittances to the BTr to PHP5.21 billion as of May 2025, marking a 30.68% increase from last year’s PHP1.56 billion.

The BCDA emphasized that this remittance—formally turned over to the BTr on May 15, 2025—represents 80% of the BCDA’s net earnings in 2024, significantly above the 50% minimum required under Republic Act No. 7656 (the Dividend Law).

The figures likewise exceed the Department of Finance’s (DOF) directive for government-owned and -controlled corporations (GOCCs) to remit at least 75% of their net income.

“This milestone underscores BCDA’s growing fiscal contribution, driven by efficient revenue generation and expenditure management,” Bingcang said.