The Bases Conversion and Development Authority (BCDA) has sold a portion of the Ninoy Aquino International Airport Terminal 3 property in Pasay City to the Manila International Airport Authority (MIAA) for P48 billion, unlocking a major source of funding for nationwide infrastructure development.

The deal was formalized during the ceremonial signing of the agreement held on 11 June 2026, at the BCDA office, transferring ownership of a 61-hectare property that forms part of one of the country's most strategically important government assets. The transaction marks the culmination of years of negotiations 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 semiannual installments over 15 years.

The transaction strengthens the government's capacity to invest in critical infrastructure while enabling MIAA to undertake long-term improvements that will enhance passenger experience, operational efficiency, and airport capacity at the country's premier international gateway.

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.

Ines likewise 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 steward of the country's premier gateway and supports our commitment to ensuring the long-term sustainability and development of this strategic asset," Ines added.

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.

“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,” Engr. 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, allowing the airport authority to pursue substantial and long-term investments in the facility's modernization, expansion, and 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 recorded 27 million passengers in 2025, demonstrating strong and sustained demand for air travel and reinforcing the importance of enhancing airport capacity and services.

In line with President Ferdinand R. Marcos Jr.'s directive, through the Department of Transportation, to modernize the country's transport infrastructure, the acquisition reinforces the government's commitment to the long-term development and sustainability of NAIA and to building a more efficient, reliable, and globally competitive aviation sector.

For BCDA, the proceeds will support its mandate under Republic Act No. 7227 to transform former U.S. military reservations into engines of economic growth.

Proceeds from land dispositions, including sales, leases, joint ventures, and concession fees, are channeled toward national development priorities. A portion is remitted to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies, while the remainder funds infrastructure development across BCDA's portfolio of economic zones, strengthening their long-term competitiveness as investment destinations.