NEWS/PRESS RELEASE
PR-025-20
Date of Release: February 24, 2020
FOR IMMEDIATE RELEASE

A total of 95 residential lots located in Vineyard Ville, Barangay Pulong Buhangin, Sta. Maria, Bulacan are set to be sold by the Philippine Deposit Insurance Corporation (PDIC) via an “as-is, where is” public bidding on March 26, 2020 at the PDIC Training Room, 9th Floor, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City.

Sealed bids shall be accepted by the PDIC Real and Other Properties Acquired (ROPA) Disposal Committee from direct buyers only between 9:00 A.M. and 1:45 P.M. at the venue. Bids will be opened at 2:00 P.M.

Aggregating a minimum disposal price of PhP49 million, up for bidding are 71 residential lots and 24 residential lots with improvement, all acquired assets of PDIC. The lots have a price range of PhP423,000.00 to PhP2.1 million, and area range of 110 to 538 square meters.

The complete list of properties is posted in the PDIC Assets for Sale site, http://assetsforsale.pdic.gov.ph. Bidders may also access the site through PDIC’s website, www.pdic.gov.ph, by clicking the Assets for Sale icon on its homepage. Prospective bidders may also visit the PDIC Public Assistance Center at the 3rd Floor, SSS Building, 6782 Ayala Avenue, cor. V.A. Rufino St., Makati City for details on the assets. For further information, interested buyers may call the PDIC Public Assistance Department at (02) 8841-4141. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888- PDIC or 1-800-1-888-7342. Inquiries may also be sent via e-mail to pad@pdic.gov.ph or by private message to PDIC’s Facebook page, @OfficialPDIC.

Each bid should be accompanied by a bond/deposit equivalent to at least 10% of the submitted bid, in cash or Manager's Check, or a combination thereof. The Manager’s Check should be issued by a reputable universal or commercial bank and payable to “Philippine Deposit Insurance Corporation” or “PDIC”. The winning bidder should pay the balance of the bid/purchase price in full within 15 calendar days from the receipt of the Certificate of Award or not later than April 10, 2020. The PDIC ROPA Disposal Committee shall automatically cancel the award once the issued checks are not cleared.

Bidders are advised to physically inspect the properties they are interested to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges and/or expenses before submitting their bids. Bidders are likewise required to bring proper identification document (ID) with photo and to register at least one hour prior to the deadline for submission of bids. Bid documents such as Bid Forms, Conditions of Bid, and the required format of the Special Power of Attorney and Secretary's Certificate may be downloaded free of charge from the PDIC website, www.pdic.gov.ph. PDIC reserves the right to withdraw without prior notice any or all of the properties offered for sale any time before the deadline for submission of bids.

The conversion of non-cash portfolio is a major corporate initiative under PDIC’s Strategy Map. A swifter disposal of these assets translates to a shorter waiting time for depositors with uninsured deposits, and other creditors, to recover their trapped funds in the case of closed banks’ assets; and in the case of corporate assets, the strengthening of the Deposit Insurance Fund, which funds the payment of valid deposit insurance claims.

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The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.

Corporate Communications Dept.
PHILIPPINE DEPOSIT INSURANCE CORPORATION
Tel: (02) 8841-4636 to 39
Trunkline: (02) 8841-4000
Website: www.pdic.gov.ph.
Email: ccd@pdic.gov.ph
Facebook: www.facebook.com/OfficialPDIC
Twitter: www.twitter.com/OfficialPDIC