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BCDA targets P5-B dividend to Treasury in 2023

THE Bases Conversion and Development Authority (BCDA) said it expects to remit around P5 billion in dividends to the National Government in 2023.

“(We are eyeing) almost P5 billion. It depends on our net income. It is a sure estimate,” BCDA President Aileen R. Zosa told reporters during a media briefing in Taguig City on Monday.

The BCDA’s 2023 target is lower than the P7.53 billion remitted in 2022. Last year’s dividend was 64% higher from the 2021 payment.

Ms. Zosa said the low remittance projection for 2023 is the result of the failure to clear over 20 hectares on its 33.1-hectare development in Bonifacio South Pointe project, undertaken as a joint venture with SM Prime Holdings.

“So far, we have cleared 11 hectares of the Philippine Army property for SM to develop. We need 20 plus hectares (more) before we can turn over to them the 33.1-hectare project area,” Ms. Zosa said.

The BCDA is developing the Bonifacio South Pointe site to generate funds for the modernization program of the Armed Forces of the Philippines (AFP).

Of the BCDA’s total remittances for 2022, P6.38 billion was generated from the sale, lease, or joint venture of former military camps in Metro Manila. The funds will then be allocated and distributed by the Department of Budget and Management to the AFP.

Gross disposition proceeds between 1993 and 2022 rose 6% to P134.66 billion, compared to the total logged at the end of 2021.

“This strong financial performance is driven by our commitment to our mandate of improving the quality of life of those not just in our properties, but also those in the surrounding communities,” Ms. Zosa said.

Ms. Zosa said that the BCDA has P11 billion worth of projects in the pipeline for New Clark City in Tarlac such as a P10-billion solid waste management and waste-to-energy project and a P1-billion solar farm.

The P1-billion solar farm project will rise 2.5 kilometers from the New Clark City substation and will be accessible through major thoroughfares.

Ms. Zosa said New Clark City has tallied P95.51 billion worth of committed investments and P14.59 billion worth of investments injected by locators as of the end of 2022.

“Of the P15 billion, some are investments in the utilities. Some are investments of locators. Some are investments of government locators,” Ms. Zosa said. — Revin Mikhael D. Ochave