MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) secured P48 billion from the disposition of the 61-hectare property occupied by the Ninoy Aquino International Airport (NAIA) Terminal 3 in Pasay City.
In a statement, the Manila International Airport Authority (MIAA) said the ceremonial agreement was forged on June 11, 2026, which marked the culmination of years of inter-agency negotiations.
Under the terms, MIAA will pay BCDA an initial P10 billion downpayment, with the remaining balance settled through semi-annual installment over 15 years.
This deal boosts government funding for critical infrastructure while allowing MIAA to fund long-term upgrades. The ownership change enables the airport authority to expand capacity, improve efficiency, and modernize the country’s main international gateway.
MIAA General Manager Eric Jose C. Ines described the acquisition as a strategic investment.
“By securing ownership of the Terminal 3 property, MIAA strengthens its stewardship of a strategic government asset and reinforces its ability to support the long-term development of the country’s premier gateway. This acquisition provides greater certainty for long-term planning, sound asset management, and the continued advancement of Philippine aviation,” Ines said.
Ines noted that the successful implementation of the NAIA public-private partnership project marked a new chapter for MIAA.
“As we continue to strengthen our role as a regulatory and oversight institution. securing ownership of the Terminal 3 property further reinforces our responsibility as steward of the country’s premier gateway and supports our commitment to ensuring the long-term sustainability and development of this strategic asset,” Ines added.
Meanwhile, BCDA President and CEO Joshua M. Bingcang said the agreement reflected the government’s commitment to maximizing public assets.
“This agreement is the result of years of careful work to ensure that the Filipino people receive the greatest possible value from this public asset,” Bingcang said. “It ensures that the property is placed in the hands of the agency best positioned to maximize its value, while generating revenues that can support public services and infrastructure. This is a practical, forward-looking solution that delivers benefits both today and for future generations.”
The deal secures MIAA’s ownership of the land and infrastructure housing NAIA Terminal 3, which will allow the airport authority to pursue substantial and lasting investments in the facility’s modernization, expansion, and long-term development.
As passenger traffic continues to grow, the transfer positions MIAA to pursue critical upgrades, expansion initiatives, and modernization projects needed to meet increasing demand and strengthen the Philippines’ connectivity to global markets.
NAIA closed 2025 with 27 million passengers, demonstrating strong and sustained demand for air travel and reinforcing the importance of enhancing airport capacity and services.