The Bases Conversion and Development Authority (BCDA) posted a record-breaking financial performance in 2024, with gross revenues surging to ₱22.1 billion—three times higher than the ₱7.3 billion recorded in 2023 and far surpassing its ₱11 billion projection.

This sharp increase was driven primarily by a ₱13.9-billion gain from a joint venture with a private developer. Revenues from service concessions also rose to ₱3.4 billion, up from ₱2.5 billion in 2023, boosted by toll adjustments and robust growth in airport operations—particularly in passenger traffic, cargo, and flights. Business and lease income contributed an additional ₱1.59 billion.

BCDA President and CEO Engr. Joshua M. Bingcang credited the agency’s performance to innovation, strategic partnerships, and responsible development. “These revenues are not just figures—they represent opportunities for inclusive growth, quality jobs, and better lives for the Filipino people,” he said.

Created under Republic Act No. 7227, the BCDA is tasked with converting former military bases into centers of economic growth. Its revenues are earned from land disposition, leases, joint ventures, and concession fees. A portion is remitted to the national government and supports the Armed Forces of the Philippines’ modernization. The rest is reinvested in infrastructure to develop economic zones, improve regional connectivity, and attract investments.