THE Bases Conversion and Development Authority (BCDA) said it booked P11.3 billion in gross revenue last year, up 3%, with results driven by its joint venture (JV) deal for a mixed-use development in Taguig City.
In a statement over the weekend, the government-owned corporation described its revenue performance as “steady” and “positive.”
“This steady growth and positive financial performance was mainly attributed to the execution of a JV agreement for the development of the 6.1-hectare mixed-use development in Bonifacio Capital District in Taguig, which yielded an initial payment of P3.5 billion to the BCDA,” it said.
BCDA also cited the 39% increase in toll and airport concession revenue to P3.2 billion.
It also saw a 48% increase in dividends from affiliates to P1 billion.
“Through collaboration with partners that share our vision and efficient revenue generation efforts, the BCDA wrapped up 2024 as another banner year for the organization, sustaining its good financial performance over the years,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.
“This is fueled by our mission to build world-class cities and implement game-changing projects for the benefit of the Filipino people,” he added.
For 2025, he said the BCDA expects to continue with revenue levels exceeding P10 billion.
“We are committed to continue generating strong revenue, as this will allow us to boost our support for our beneficiary agencies and stakeholders, especially our military forces,” he added.
In a separate statement, the BCDA warned of the dissemination of inaccurate interpretations of the Supreme Court decision regarding the issue on Camp John Hay.
“Despite the clear language of the Supreme Court Decision, some persons in the guise of allegedly protecting the rights of third persons, have sought to disseminate misinformation and an inaccurate interpretation of the decision,” the BCDA said.
“The BCDA advises everyone to be vigilant and read the Supreme Court Decision itself to correct any and all attempts at defrauding the public,” it added.
According to BCDA, the Supreme Court’s recent ruling allows BCDA to regain control over Camp John Hay, which is expected to attract new investment, open the site to all, allow redevelopment, and drive sustainable economic growth. — Justine Irish D. Tabile