Manila International Authority and BCDA decides on the lease terms for the lot occupied by NAIA Terminal 3

The Manila International Airport Authority has agreed to pay a total lease of PhP 2 billion to the Bases Conversion and Development Authority (BCDA) for the lot occupied by the Ninoy Aquino International Airport (NAIA) Terminal 3. The lease will be valid for a 10-year period (2013–22); the annual payment of PhP 190.5 million will be subject to a 5 per cent increase every five years, in accordance with the original lease agreement. The lot where the NAIA Terminal 3 currently stands is one of the government properties that is under the management and protection of BCDA.