The ceremonial agreement held on June 11, 2026 between the BCDA and the Manila International Airport Authority (MIAA), transfers ownership of one of the country’s most strategically important government properties and marks the culmination of years of negotiation between the two government agencies.

Under the agreement, MIAA will pay BCDA Php48 billion, including an initial Php10 billion downpayment and the balance through semi-annual installments over 15 years. The transaction strengthens the government’s capacity to invest in critical infrastructure while enabling MIAA to undertake long-term improvements that will enhance passenger experience, operational efficiency, and airport capacity at the country’s premier international gateway.

MIAA General Manager Eric Jose C. Ines described the acquisition as a strategic investment that strengthens MIAA’s stewardship of one of the country’s most important aviation assets.
“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 likewise 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 Engr. Joshua M. Bingcang said the agreement reflects the government’s commitment to maximizing the value of public assets for the benefit of Filipinos.
“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,” Engr. 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.”

Optimizing public asset

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.
In line with President Ferdinand R. Marcos Jr.’s directive, through the Department of Transportation, to modernize the country’s transport infrastructure, the acquisition reinforces the government’s commitment to the long-term development and sustainability of NAIA and to building a more efficient, reliable, and globally competitive aviation sector.
For BCDA, the proceeds will support its mandate under Republic Act No. 7227 to transform former U.S. military reservations into engines of economic growth.
Proceeds from land dispositions including sales, leases, joint ventures, and concession fees are channeled toward national development priorities of which a portion is remitted to the Bureau of the Treasury as dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies, while the remainder funds infrastructure development across BCDA’s portfolio of economic zones, strengthening their long-term competitiveness as investment destinations.

Subic Bay Freeport – The Subic Bay Metropolitan Authority (SBMA) has allotted 800-square meters of land to be utilized by the Bases Conversion and Development Authority (BCDA) for the Luzon Economic Corridor (LEC) initiatives.
SBMA Chairman and Administrator Eduardo Jose L. Aliño and BCDA President/ CEO Joshua M. Bingcang formalized this pact in a Memorandum of Agreement (MOA) at the SBMA administration building on June 3, 2026.
SBMA Senior Deputy Administrator for Support Services Atty. Ramon O. Agregado and BCDA Senior Vice President for Conversion and Development Group Engr. Mark P. Torres witnessed the signing of the MOA along with officials and employees from both agencies.
Aliño stated that the designated area will serve as a workspace for BCDA officials and employees involved in official duties throughout the construction of the Subic-Clark-Manila-Batangas (SCMB) Railway Project and the Subic-Clark-Tarlac Expressway (SCTEX) interchange expansion.
“We are delighted to have you join our community. This partnership is more than just us lending you a parcel of land. It is a commitment to building a vibrant, supportive, and sustainable home for your staff. We look forward to ensuring that their living experience here is not only comfortable but truly enriching,” Aliño said.
Meanwhile, Bingcang said that this prepositioning of BCDA officials and staff is part of the agency’s thrust to ensure that the BCDA’s assets in Bataan accelerate investments and development activities in the region.
He added that these combined developments are expected to boost investment inflows further and increase personnel movement and operational demands in and around the Subic-Bataan-Clark growth area.
The agreement signed by the two agencies stipulates the use of an approximately 800-square-meter vacant residential lot located between Lots 95 and 97 Corsair Street, West Kalayaan, Kalayaan Heights District, Subic Bay Freeport Zone.
The allocation was approved by the SBMA Board of Directors through Resolution No. 25-07-1360 dated July 10, 2025, subject to the terms and conditions of the MOA and applicable SBMA rules and regulations.
(related story on page 02)

Acwa Power Philippines, a subsidiary of Acwa Power Company (Saudi Tadawul: 2082), the world’s largest private water desalination company, a leader in the energy transition, and a first mover in green hydrogen at scale, has signed a contract of lease (COL) with the Bases Conversion and Development Authority (BCDA) for a 500-hectare site within New Clark City, marking a major milestone in the Philippines’ clean energy and industrial transformation agenda.
This project is one of the key investment commitments secured by the Philippine government under the administration of President Ferdinand R. Marcos Jr., in support of the country’s sustainable economic growth and energy security objectives.
“We have worked tirelessly with our partners across government to bring this investment to fruition, and we are pleased to see those efforts finally bear fruit. Acwa Power’s decision to invest is a strong vote of confidence in the country and the reforms being pursued under this administration. This will help unlock new investments, create quality jobs for Filipinos, and foster more resilient growth for Central Luzon and the Philippines for years to come,” Finance Secretary Frederick D. Go said.
Under the lease with BCDA, Acwa Power Philippines will develop an integrated utility-scale solar photovoltaic and battery energy storage system (PV-BESS) facility. The project represents an initial investment of at least USD 400,000 per megawatt (MW), with a capacity of up to 500 MW upon full build-out, subject to final design, regulatory approvals, and future expansion phases.
For Acwa Chief Executive Officer Dr. Samir J. Serhan, the partnership translates to the growing investor confidence in the Philippines as a destination for large-scale clean infrastructure. “New Clark City reflects the kind of integrated, future-ready development that global energy investors are looking for,” he said.
“Working alongside BCDA gives this initiative both strategic clarity and long-term momentum. We see an opportunity to help power industrial growth while lowering energy costs and supporting the country’s broader economic ambitions through reliable renewable energy,” Serhan added.
The scale of the lease within an active special economic zone was itself a deliberate design decision. Salman M. Baray, Country General Manager of Acwa Philippines, said the footprint allows the company to build something genuinely integrated rather than incremental.
“We will also invest in the host communities around the site, because a project of this breadth has to work for the people who live alongside it,” Baray said.

Powering up New Clark City

BCDA is positioning New Clark City as a competitive hub for artificial intelligence, advanced manufacturing, and other technology-driven industries — supported by world-class digital infrastructure and, through its agreement with Acwa, a reliable foundation of clean and renewable energy tailored to the needs of high-growth, energy-intensive sectors.
BCDA President and CEO Engr. Joshua M. Bingcang expressed confidence in the collaboration, noting that aligning Acwa’s track record with BCDA’s development mandate will allow both parties to “accelerate the country’s renewable targets and attract the high-value tenants that depend on clean, dependable power.”
“Anchoring Acwa inside New Clark City is a defining moment for the estate. It tells global investors that this is where the Philippines’ next wave of sustainable infrastructure gets built,” Engr. Bingcang added.
The solar plant will serve as BCDA’s anchor power locator inside the New Clark City special economic zone, supplying clean, round-the-clock electricity to data centers, advanced manufacturing tenants, and other energy-intensive industries moving into the master-planned development.
The project directly supports the Philippine government’s goal of increasing the share of renewable energy in the national power mix to 35 percent by 2030, while reinforcing New Clark City’s ambition to become a green, smart, and resilient urban center.
The lease also marks Acwa’s first land agreement with a Philippine government agency, representing a significant milestone in the company’s Southeast Asia growth strategy and reinforcing investor confidence in the Philippines as a destination for large-scale infrastructure and renewable energy investments