BCDA earns P444M in January-April

The Bases Conversion and Development Authority (BCDA) yesterday reported that it generated P443.7 million in the first four months of this year from its lease and joint venture developments of Metro Manila military baselands.

BCDA president and chief executive officer Narciso Abaya said the projected total income for the year of P478 million would be the result of a shift of BCDA’s financial strategy from that of generating revenues from the sale of Metro Manila camps to entering into joint venture and lease agreements with the country’s top developers.

The BCDA has entered into joint venture development agreements and lease arrangements with Ayala Land Inc., the Alliance Global Group and Megaworld Corp. for the development of Fort Bonifacio.

Some of the joint venture projects are the Serendra residential project of Ayala Land and the commercial development Market! Market!.

Another residential subdivision development is that of McKinley Hills.

According to Abaya, the joint venture and lease agreements would result in P40 billion in revenues for the BCDA in the next 25 years.

The BCDA is also planning to bid out some 15 hectares of prime land in Fort Bonifacio .

According to BCDA vice president for corporate planning and business development Aileen Zosa, the two lots are located north of S&R Price Mart, near the Fort Bonifacio Gate 1 along JP Rizal avenue.

The neighboring lot is a 10.5-hectare area owned by Metro Bank.

Zosa said that the two lots are the only remaining big block of lots within Bonifacio Global City.

Thus, prime developers are really interested in bidding for the properties.

"For those developers who have not bought or developed lots in the Global City, this is their last chance to penetrate the market," Zosa said.

Both lots are near the institutional area which is comprised, among others, of the Manila-Japanese School, International School and the British School.

Zosa added that a mixed-use development would be able to take advantage of the amenities and facilities provided by the schools.

Both lots are also near the proposed St. Lukes Hospital.