MIAA secures ownership of NAIA Terminal 3 property in P48-B deal

The Manila International Airport Authority (MIAA) has secured ownership of the 61-hectare property in Pasay City occupied by Ninoy Aquino International Airport (NAIA) Terminal 3 in a P48-billion deal with the Bases Conversion and Development Authority (BCDA).

Under the agreement, MIAA will make an initial payment of P10 billion and pay the remaining amount through semi-annual installments over 15 years, giving it full control of the Terminal 3 property.

“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,” MIAA general manager Eric Jose Ines was quoted as saying in a statement.

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

The agreement comes after years of negotiation with the BCDA, which said the additional funds can be used for infrastructure and development projects, with part of the proceeds set to be remitted to the national government 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,” BCDA president and chief executive officer Joshua 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,” he added.

The BCDA is mandated to help strengthen the Armed Forces of the Philippines (AFP) while building cities. It also engages in public-private partnerships to boost public infrastructure such as tollways, airports, seaports, and major real estate developments.

NAIA handled some 27 million passengers in 2025, highlighting the need for further upgrades and expansion to meet rising demand.

It is being operated by the New NAIA Infra Corp. (NNIC) — made up of San Miguel Holdings Corp., RMM Asian Logistics Inc., RLW Aviation Development Inc., and Incheon International Airport Corp. — which took over on September 14, 2024. —AOL, GMA News