BCDA targets 2026 revenue of P10 billion

THE Bases Conversion and Development Authority (BCDA) said it set a revenue target of P10 billion this year.

“We scan the environment and study the market, and those are the things that are under our control,” BCDA President and Chief Executive Officer Joshua M. Bingcang told reporters, adding that there may be some upside from ”unexpected, last-minute” items.

He said the target that was given to the BCDA by its regulator, the Governance Committee for Government-Owned and -Controlled Corporations  (GCG) is P8 billion.

“Internally, we set the target at P10 billion,” he said, noting that it has less and less land to commit “so we are looking for non-traditional sources of revenue.”

This year, he said that the BCDA is not expecting payment of P300 million from the lessor of its Market! Market! Site.

“For this year they won’t pay (because) under our contract their advance payment will be applied to their last year,” he said.

“We need to offset the lost income there. So we will look for a replacement,” he added.

Meanwhile, the BCDA expects to award the permanent operations and maintenance contract for the Poro Point Seaport by the third quarter of 2027.

He said that the Public-Private Partnership Center  shortlisted four international companies to draft the master plan for the Poro Point Seaport.

“We are looking to award the master plan (contract) in April, and then (after the feasibility study)… we want to have the permanent operator by the third quarter of 2027,” he added.

Currently, the seaport is operated by BCDA subsidiary Poro Point Management Corp.

He said the BCDA will also look for a partner to execute the master plan for the airport at Poro Point.

“We also want to modernize the airport because right now, it is just a chartered aviation school. My goal is for 2027 or 2028 is to make it a commercial-grade airport,” he said.

As such, he said the BCDA will be investing in a new terminal, twice the size of the existing terminal at the Poro Point Airport.

“The construction needs to start this year. Our initial budget for this is P250 million,” he said. — Justine Irish D. Tabile