The Bases Conversion and Development Authority (BCDA) has secured P48 billion from the disposition of a 61-hectare property occupied by Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City, unlocking a major source of funding for nationwide infrastructure development while paving the way for the airport’s long-term modernization and expansion.
The said deal was solidified during the ceremonial signing of the agreement held on 11 June 2026 at the BCDA office, transferring ownership of a 61-hectare property, one of the country’s most strategically important government properties, and marking the culmination of years of negotiation between the two government agencies.
Under the agreement MIAA will pay BCDA P48 billion, including an initial P10-billion down payment, with the balance to be paid through semi-annual installments over 15 years.
The transaction strengthens the government’s capacity to invest in critical infrastructure while enabling MIAA to undertake long-term improvements to enhance passenger experience, operational efficiency, and airport capacity at the country’s premier international gateway.
Strategic investment
MIAA general manager Eric Jose C. Ines described the acquisition as a strategic investment that strengthens MIAA’s stewardship of one of the country’s most important 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. This acquisition provides greater certainty for long-term planning, sound asset management, and the continued advancement of Philippine aviation,” Ines said.
He also noted that the successful implementation of the NAIA public-private partnership project marked 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 a steward of the country’s premier gateway and supports our commitment to ensuring the long-term sustainability and development of this strategic asset,” Ines said.
Meanwhile, BCDA president and CEO Engr. Joshua M. Bingcang said the agreement reflects the government’s commitment to maximizing the value of public assets for the benefit of Filipinos.
Years of careful work
“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.”
The deal secures MIAA’s ownership of the land and infrastructure housing NAIA Terminal 3, which will allow the airport authority to pursue substantial and lasting investments in the facility’s modernization, expansion, and long-term development.
As passenger traffic continues to grow, the transfer positions MIAA to pursue critical upgrades, expansion initiatives, and modernization projects needed to meet increasing demand and strengthen the Philippines’ connectivity to global markets.
NAIA closed 2025 with 27 million passengers, demonstrating strong and sustained demand for air travel and reinforcing the importance of enhancing airport capacity and services.
