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The Bases Conversion and Development Authority and Manila International Airport Authority signed a P48-billion deal transferring ownership of the 61-hectare Ninoy Aquino International Terminal 3 property to MIAA
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The agreement gives MIAA greater control over the country’s premier gateway and supports long-term modernization and expansion plans as passenger traffic continues to grow
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NAIA closed 2025 with 27 million passengers, while cargo throughput for the January-August 2025 period reached 369,924.36 metric tons, down 3.2% from the same period in 2024 amid a drop in international shipments
The Bases Conversion and Development Authority (BCDA) has secured P48 billion from the sale of a 61-hectare property occupied by Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City, generating a major funding source for nationwide infrastructure projects while clearing the way for the airport’s long-term modernization.
The two government agencies signed a ceremonial agreement on June 11, 2026, transferring ownership of one of the country’s most strategically valuable government properties to the Manila International Airport Authority (MIAA), capping years of negotiations between BCDA and MIAA.
Under the deal, MIAA will pay BCDA the full P48 billion through an initial P10-billion downpayment followed by semi-annual installments over 15 years. The arrangement boosts government funding for infrastructure projects while giving MIAA room to pursue long-term upgrades aimed at improving passenger experience, operational efficiency, and overall airport capacity at the country’s main international gateway.
MIAA general manager Eric Jose Ines called the acquisition a strategic move that strengthens the agency’s stewardship over one of the country’s most important aviation assets. He said owning the Terminal 3 property gives MIAA greater certainty for long-term planning and asset management, supporting the continued growth of Philippine aviation. Ines added that the deal builds on the momentum of the NAIA public-private partnership project, reinforcing MIAA’s role as both regulator and steward of the country’s premier airport while ensuring the facility’s long-term sustainability.
For his part, BCDA president and CEO Engr. Joshua Bingcang said the agreement reflects years of work to ensure Filipinos get maximum value from a key public asset. He noted that placing the property under the agency best positioned to manage it will generate revenues that can fund public services and infrastructure, calling the deal a practical, forward-looking move that benefits both current and future generations.
The agreement gives MIAA full ownership of the land and facilities housing NAIA Terminal 3, opening the door for substantial, lasting investments in the airport’s modernization and expansion. With passenger numbers climbing — NAIA closed 2025 with 27 million passengers — the transfer positions MIAA to pursue the upgrades needed to keep pace with demand and strengthen the country’s connectivity to global markets.
Cargo movement through NAIA has been more mixed in recent periods. From January to August 2025, the airport handled 369,924.36 metric tons of cargo, a 3.2% decline from the 382,321.53 metric tons recorded in the same period in 2024, largely due to weaker international cargo volumes. International cargo made up 59.2% of the total but fell 15.3% to 218,919.18 metric tons, while domestic cargo grew 22% to 151,005.18 metric tons. Industry groups have separately called for measures to ease cargo congestion at the airport, underscoring the need for continued infrastructure investment alongside passenger-focused upgrades.
The acquisition supports President Ferdinand R. Marcos Jr.’s directive, through the Department of Transportation, to modernize the country’s transport infrastructure and build a more efficient, reliable, and globally competitive aviation sector.
For BCDA, proceeds from the deal will support its mandate under Republic Act No. 7227 to convert former U.S. military reservations into engines of economic growth. Revenues from land sales, leases, joint ventures, and concession fees are channeled toward national development priorities, with a portion remitted to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies, while the rest funds infrastructure across BCDA’s economic zones.
