The Bases Conversion and Development Authority (BCDA) and the Manila International Airport Authority (MIAA) have finalized a landmark Php48-billion agreement transferring ownership of the 61-hectare property occupied by NAIA Terminal 3, a move expected to boost infrastructure investments nationwide and support the airport’s long-term modernization.
The ceremonial signing held on June 11 marks the culmination of years of negotiations between the two government agencies, transferring ownership of one of the country’s most strategically important government properties.
Under the agreement, MIAA will pay BCDA Php48 billion, including a Php10-billion down payment, with the remaining balance to be settled through semi-annual installments over 15 years.
MIAA General Manager Eric Jose C. Ines described the acquisition as a strategic investment that strengthens the agency’s stewardship of one of the country’s key aviation assets.
“By securing ownership of the Terminal 3 property, MIAA strengthens its stewardship of a strategic government asset and reinforces its ability to support the long-term development of the country’s premier gateway,” Ines said.
He added that ownership of the property would provide greater certainty for long-term planning, sound asset management, and the continued advancement of Philippine aviation.
Ines also said the successful implementation of the NAIA public-private partnership project signals a new chapter for MIAA.
“As we continue to strengthen our role as a regulatory and oversight institution, securing ownership of the Terminal 3 property further reinforces our responsibility as steward of the country’s premier gateway and supports our commitment to ensuring the long-term sustainability and development of this strategic asset,” he said.
BCDA President and Chief Executive Officer Engr. Joshua M. Bingcang said the agreement demonstrates the government’s commitment to maximizing the value of public assets for the benefit of Filipinos.
“This agreement is the result of years of careful work to ensure that the Filipino people receive the greatest possible value from this public asset,” Bingcang said.
“It ensures that the property is placed in the hands of the agency best positioned to maximize its value, while generating revenues that can support public services and infrastructure. This is a practical, forward-looking solution that delivers benefits both today and for future generations,” he added.
The acquisition secures MIAA’s ownership of the land and infrastructure housing NAIA Terminal 3, enabling the airport authority to pursue major modernization, expansion, and development projects.
With passenger traffic continuing to grow, the transfer is expected to support critical upgrades and expansion initiatives aimed at enhancing airport capacity, operational efficiency, and passenger experience. NAIA recorded 27 million passengers in 2025, underscoring the increasing demand for air travel and the need for continued infrastructure improvements.
The agreement also aligns with the directive of President Ferdinand Marcos Jr., through the Department of Transportation, to modernize the country’s transport infrastructure and strengthen the competitiveness of the Philippine aviation sector.
For BCDA, proceeds from the transaction will help fulfill its mandate under Republic Act No. 7227 to transform former U.S. military reservations into engines of economic growth.
Revenue generated from land dispositions, including sales, leases, joint ventures, and concession fees, is used to support national development priorities. A portion is remitted to the Bureau of the Treasury and beneficiary agencies such as the Armed Forces of the Philippines, while the remainder funds infrastructure projects across BCDA-managed economic zones.
