MBC Advisory

Here’s to teamwork, good vibes, and stronger bonds 🌴✨

Just a heads up to our valued clients regarding our office operations on May 19, 2026. Please see the advisory below. Thank you!

SBMA has officially opened a Comparative Challenge — a Swiss Challenge-style bidding process — for the Subic Bay International Airport (SBIA) Project, after US-based investment firm Cerberus Asia Pacific Investments LLC submitted a ₱5.31-billion unsolicited proposal to manage, operate, and upgrade the airport. Under the proposed 25-year concession, SBMA would retain the lion's share of annual revenues from airport fees, with the arrangement designed to transform SBIA into a modern, high-capacity cargo hub for the Luzon region. Interested challengers must pay a non-refundable participation fee of ₱1.4 million (US$23,333) and submit their comparative proposals no later than August 17, 2026.

Cerberus, which already operates part of a 310-hectare former South Korean-owned shipyard within the Subic Bay Freeport Zone, has long eyed the airport as part of a broader plan to revitalize the former US naval base. SBIA, built on the grounds of the former Naval Air Station Cubi Point, currently has no scheduled commercial airline services — making its transformation into a major cargo hub a potentially game-changing move for the region. If no challenger steps up or the original proponent matches the best offer, Cerberus walks away with the deal.