Upgrades expected at Naia after MIAA-BCDA property deal

MANILA, Philippines—The Manila International Airport Authority (MIAA) has gained ownership of a property occupied by Ninoy Aquino International Airport (Naia) Terminal 3 after agreeing to pay P48 billion to the Bases Conversion and Development Authority (BCDA).

The agreement is expected to allow MIAA to pursue substantial and lasting investments that will help enhance passenger experience, operational efficiency, and airport capacity at Naia, the agency said in a joint statement with the BCDA on Friday.

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As part of the deal, MIAA will pay P48 billion to the BCDA in semi-annual installments over 15 years, with an initial down payment of P10 billion.

The sale was formalized in a ceremonial agreement on June 11, following years of negotiation between the two agencies.

“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,” said MIAA General Manager Eric Jose Ines.

“This acquisition provides greater certainty for long-term planning, sound asset management, and the continued advancement of Philippine aviation,” he added.

The joint statement noted that passenger traffic at Naia continues to grow, with 52.02 million travelers passing through the airport in 2025 alone, reflecting strong, sustained demand for travel. 

By acquiring the property, MIAA is now in a position to pursue critical upgrades, including initiatives to expand and modernize the airport, to meet increasing demand and strengthen the country’s connectivity to global markets.

At the same time, proceeds from the sale will provide the BCDA with funds to further develop the economic zones under its care, such as New Clark City in Central Luzon, John Hay Special Economic Zone in Baguio City and Poro Point Freeport Zone in La Union.

A portion of the proceeds will also be remitted to the Bureau of Treasury to serve as dividends and contributions to the Armed Forces of the Philippines and other beneficiary agencies.

“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,” said BCDA President and CEO Engr. Joshua Bingcang.

“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,” he added. /mr