State-owned Manila International Airport Authority (MIAA) has finally acquired the 61-hectare property occupied by Ninoy Aquino International Airport (NAIA) Terminal 3 from the Bases Conversion and Development Authority (BCDA) for PHP48 billion, securing full ownership and control of the site that houses the country’s premier international gateway and marking its transition from leaseholder to landowner.
MIAA General Manager Eric Jose C. Ines and BCDA President and CEO Joshua Bingcang signed the transfer of ownership on June 11, 2026, of one of the country’s most strategically important government properties after 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 GM 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,” GM 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,” he added.
On the part of the BCDA, BCDA President and CEO Bingcang said the sale of the property from one government owned and control corporation to another state-owned agency unlocked a major source of funding for BCDA’s nationwide infrastructure development.
The agreement reflects the government’s commitment to maximizing the value of public assets for the benefit of Filipinos, he said.
“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.
BCDA 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.
