The Base Conversion and Development Authority (BCDA) said it saw P11.3 billion in gross revenue last yr, up 3%, with the performance driven by a three way partnership (JV) agreement for a mixed-use development in Taguig City.
In an announcement released over the weekend, the government-owned corporation described its revenue as “stable” and “positive.”
“This continued growth and positive financial performance is primarily due to the execution of the JV agreement to develop a 6.1-hectare mixed-use complex in the Bonifacio Capital District of Taguig, which resulted in an initial payment to BCDA of P3.5 billion,” it said.
BCDA also mentioned a 39% increase in revenue from tolls and airport concessions to P3.2 billion.
Dividends from affiliates also increased by 48% to P1 billion.
“Through collaboration with partners who share our vision and successful revenue generation efforts, BCDA completed 2024 with another banner year for the organization, maintaining strong financial performance over the years,” said BCDA President and CEO Joshua M. Bingcang.
“This is driven by our mission to build world-class cities and implement groundbreaking projects for the benefit of the Filipino people,” he added.
He said that in 2025, BCDA expects to take care of revenue levels in excess of P10 billion.
“We want to continue to generate strong revenues as this will allow us to increase our support to our beneficiary agencies and stakeholders, especially our armed forces,” he added.
In a separate statement, BCDA warned against spreading misinterpretations of the Supreme Court’s decision in the Camp John Hay case.
“Despite the clear wording of the Supreme Court’s decision, some people, under the guise of allegedly protecting the rights of third parties, tried to spread disinformation and misinterpretation of the ruling,” BCDA said.
“BCDA advises everyone to remain vigilant and familiarize themselves with the Supreme Court decision itself to correct any attempt to deceive the public,” he added.
According to BCDA, the recent Supreme Court ruling allows BCDA to regain control of Camp John Hay, which is anticipated to draw recent investment, open the location to all, enable redevelopment and spur sustainable economic growth. — Justine Irish D. Tabile
