BCDA Increases Lease Rate for NAIA Terminal 3 Land to PHP 600 Million

MANILA: The Bases Conversion and Development Authority (BCDA) has announced a significant increase in the lease rate for the land on which the Ninoy Aquino International Airport (NAIA) Terminal 3 is situated. The new lease rate will be PHP 600 million annually, a substantial rise from the previous rate.

According to Philippines News Agency, the lease for the 60-hectare land in Pasay City, where NAIA Terminal 3 is located, had a 25-year term that concluded last year. The BCDA has now decided to triple the lease rate from the earlier PHP 200 million to PHP 600 million annually. Bingcang highlighted the revenue potential of this lease renewal during an interview with reporters.

Bingcang further mentioned that BCDA is considering the option of selling the property to the Manila International Airport Authority, the entity responsible for managing the country’s primary airport. He emphasized the significant value of the property, estimating its worth based on the government’s zonal value at around PHP 50 billion.

This move by the BCDA reflects a strategic approach to managing valuable government assets and optimizing revenue potential from key infrastructural properties in the Philippines.