BCDA property disposition surges in 2012

The Bases Conversion and Development Authority (BCDA) earned P3 billion last year from the lease and sale of its properties in Metro Manila, the agency said in a statement Thursday. BCDA’s gross disposition proceeds in 2012 surged by 126.7 percent from P1.46 billion to P3.31 billion “due to prudent financial management and more efficient collection efforts.” For 2013, the agency hopes disposition proceeds will “significantly increase based on future transactions of sale, lease, and joint venture development the BCDA will undertake,” said BCDA president and CEO Arnel Casanova. “We expect that the amount will grow bigger as we continue to optimize the value of BCDA assets and improve our collection efficiency,” Casanova said. In 2012, the agency bid out the 5,389-square meter Nichols Loop and the 5,005.13-square meter old Nichols Driving Range in October. It also held biddings for the 1,244-square meter Sampaguita institutional use property across the Market! Market! Mall on August 24 and the 3,099-square meter Eastgate Parking Facility along 14th Drive in Bonifacio Global City. From May 1993 until December 2012, BCDA generated P56.657 billion, most of which came from the privatization of Fort Bonifacio and properties in the Villamor Airbase. The Armed Forces of the Philippines was able to get P23.433 billion as part of the remittances paid by BCDA. — KBK, GMA News