Manila: The Bases Conversion and Development Authority's (BCDA) total gross revenues witnessed a significant increase, reaching PHP22.1 billion in 2024, compared to PHP7.3 billion the previous year.

According to Philippines News Agency, the BCDA announced that this revenue not only tripled but also exceeded the earlier projection of PHP11 billion. The authority attributed this surge to multiple income streams, notably from a joint venture agreement with a private developer, which brought in PHP13.9 billion.

Service concession revenues experienced an increase, reaching PHP3.4 billion in 2024 from PHP2.5 billion in 2023. This was largely driven by toll rate hikes and a robust growth in airport operations, encompassing passenger traffic, cargo, and flights. Additionally, business and lease income amounted to PHP1.59 billion.

BCDA President and CEO Joshua Bingcang emphasized the organization's commitment to innovation and strategic partnerships, stating, "With our consistent push for innovation, strategic partnerships, and responsible development, BCDA remains steadfast in its mission to build smart, sustainable communities and deliver transformative infrastructure for generations to come." He further noted that the revenues symbolize opportunities for inclusive growth, quality jobs, and improved lives for the Filipino people.

The BCDA operates under Republic Act 7227, which mandates the transformation of former military camps into centers of growth. The authority generates revenues through land disposition, lease, joint ventures, and concession fees. A portion of these funds is directed to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines for its Modernization Program and other beneficiary agencies. The remaining funds are reinvested into infrastructure projects aimed at strengthening economic zones, improving regional connectivity, and attracting investments.