BCDA gross revenues up 3% to P11.3B in 2024
STATE-OWNED Bases Conversion and Development Authority (BCDA) reported gross revenues of P11.3 billion in 2024, up 3 percent from P10.9 billion in 2023.
The agency attributed the increase to a joint venture of a 6.1-hectare mixed-use development in Bonifacio Capital District in Taguig City, with an initial payment of P3.5 billion.”Through collaboration with partners that share our vision and efficient revenue generation efforts, the BCDA wrapped up 2024 as another banner year… sustaining good financial performance over the years,” BCDA President and CEO Joshua Bingcang said, underlining its mission to build world-class cities and implement game-changing projects.BCDA’s toll and airport concession income also grew by P925 million to P3.2 billion from P2.3 billion in 2023. Dividends from the agency’s affiliates also rose by P325 million, reaching P1 billion in 2024.For 2025, Bingcang expressed optimism in sustaining growth, projecting BCDA’s revenues to remain above P10 billion.”This will allow us to boost our support for our beneficiary agencies and stakeholders, especially our military forces,” he said.Republic Act 7227, or the Bases Conversion and Development Act, mandates the BCDA to transform former military camps into centers of economic growth. The income generated from sales, leases, joint ventures, concession fees and other sources will fund infrastructure projects and support the Armed Forces of the Philippines and other beneficiary agencies.A share of the earnings also funds the BCDA’s infrastructure projects to help strengthen and boost the competitiveness of its economic zones. Portions of the proceeds are remitted to the Bureau of the Treasury through dividends and contributions.
