The Bases Conversion and Development Authority (BCDA) is targeting P10 billion in revenues in 2026, pivoting from headline income growth to a sharper focus on jobs, investments, and long-term asset value, its top executive said.
BCDA president and chief executive officer Joshua Bingcang said last year’s P14-billion haul was “good on paper” but stressed that financial performance must translate into tangible benefits for communities within BCDA estates.
“For the past years, we’ve been reporting revenues, and we’re proud of what we are generating,” Bingcang said. “But what we want is how this will translate to the ordinary stakeholders—jobs, investments, opportunities, livelihood.”
The 2025 revenue mix reflected a calibrated balance between recurring income and one-off transactions. Around P6.1 billion came from steady sources such as leases and dividends. These include commercial lease payments from Market! Market! of about P300 million annually, airport leases of roughly P500 million, and dividends from Bonifacio Global City estates totaling about P1 billion.
Infrastructure assets also delivered. The Subic-Clark-Tarlac Expressway contributed about P3 billion, underscoring the growing weight of transport corridors in BCDA’s portfolio. Meanwhile, land disposition and right-of-way deals generated some P5 billion —non-recurring but integral to what Bingcang described as portfolio optimization.
“Our position is really a mix of sale and lease so that ownership does not disappear,” he said, noting that stable lease streams provide “passive income” regardless of market cycles.
Still, revenue volatility remains part of the equation. Market! Market! will not deliver lease payments this year after advance payments were recognized earlier, leaving a roughly P300-million gap. BCDA plans to offset this through new and existing contracts with developers such as Megaworld, Federal Land, Robinsons, and SM, as well as locators in Baguio and other sites.
Beyond topline targets, BCDA’s mandate includes remittances to the National Treasury, including support for the Armed Forces of the Philippines modernization program. Last year, the agency remitted about P5 billion; this year, contributions could reach as much as P7 billion, including dividends.
“All the revenues go to the National Treasury,” Bingcang said. “Sila ang nagre-redistribute.”
Even so, he signaled a push to earmark more funds for reinvestment into BCDA properties to sustain long-term returns.
The agency is also aligning projects with emerging priorities such as digital transformation and artificial intelligence, themes highlighted at the World Economic Forum in Davos.
BCDA is certain that while revenue is the metric, reinvestment and job creation are the end goals.
