State-owned Bases Conversion and Development Authority said Tuesday it expects to raise P58.4 billion from the sale of military lots in 2016.
BCDA president and chief executive Arnel Paciano Casanova said in a news briefing Tuesday these properties included five assets that were still embroiled in messy disputes.
The agency is seeking the revocation of conveyance extended to the city government of Taguig for the Taguig Civic Center and the SRDP South properties.
Bonifacio South Pointe is currently under SM land Inc. management, with a case pending before the Supreme Court while Bonifacio East is being groomed for commercial development, if the Office of the President agrees to reassign the property for commercial use instead for socialized housing.
BCDA’s asset disposition program generated P8.2 billion revenues for the agency and P26.83 billion in committed investments from 2011 to 2015.
Casanova said the agency was pro-actively seeking the resolution of problematic accounts as it identified 10 areas with P6.3 billion in receivables in 2011.
He said over the last five years, the receivables dramatically went down to P257 million as of June 2016.
BCDA said revenues hit a record P17.6 billion in 2015, or 44 percent higher than P12.6 billion in 2014.
“When we started at 2011, our cash position was modestly pegged at P7.4 billion, but by the end of 2015 we have significantly improved it by 132 percent to P17.6 billion,” Casanova said.
Casanova said it took a strong, clear and decisive action to reach the number in keeping with BCDA’s role as a steward of government property.
“We focused in creating and maximizing the value of lands under BCDA’s stewardship as well as plugging revenue leaks,” he said.
The agency is also keen on transforming at least five idle military camps into agro-industrial sites via joint development to spur economic growth on these areas.
These include BNS Lot 1, Lots 1A and 1B inside Fort Bonifacio, Naval Operating Base in Cebu, Fort Ramon Magsaysay Military Reservation in Nueva Ecija and Camp Kibaritan Military Reservation in Bukidnon.