The government has taken a major step toward securing the future of the country’s busiest air gateway, with the Manila International Airport Authority (MIAA) agreeing to acquire the 61-hectare property occupied by Ninoy Aquino International Airport (NAIA) Terminal 3 from the Bases Conversion and Development Authority (BCDA) in a P48-billion transaction.
The deal, formalized through a Contract to Sell (CTS) signed on Thursday, transforms what was initially conceived as a lease-to-own arrangement into an outright purchase, providing greater certainty over one of the country’s most strategic infrastructure assets.
Under the agreement, MIAA will pay BCDA P48 billion, beginning with a P10-billion down payment and the remaining balance through semi-annual installments spread over 15 years. The transaction supersedes a March 2025 memorandum of agreement that granted MIAA a three-year option to eventually purchase the property.
The shift to a straight sale underscores the government’s desire to secure long-term control over the land beneath Terminal 3 at a time when aviation infrastructure is undergoing significant transformation. With passenger traffic continuing to recover and modernization efforts gaining momentum, ownership of the property removes potential uncertainties that could complicate future expansion and redevelopment plans.
“This Contract to Sell lays a stronger foundation for the long-term development, modernization, and sustainability of the NAIA Terminal 3 property, while ensuring that this valuable government asset remains dedicated to serving the needs of Philippine aviation,” said MIAA General Manager Eric Jose C. Ines.
For BCDA, the transaction represents more than a property sale. It is also a strategic asset monetization initiative that unlocks substantial resources while ensuring that the land remains devoted to public service.
BCDA President and Chief Executive Officer Joshua M. Bingcang emphasized that preserving the facility’s public purpose remained a key consideration throughout negotiations.
“We want to make sure we keep that commitment to the Filipino people—that this facility is for every Filipino,” Bingcang said.
Beyond the financial terms, the agreement reflects broader efforts to strengthen the country’s aviation sector. Stable ownership of the Terminal 3 property is expected to support infrastructure upgrades, improve operational efficiency, and facilitate long-term planning as authorities seek to enhance passenger experience and increase the Philippines’ competitiveness as a destination for tourism, trade, and investment.
As the country pursues ambitious airport modernization goals, the P48-billion deal removes a longstanding property issue and gives airport authorities greater flexibility to shape the future of one of the nation’s most critical transport hubs.
