The Philippine Deposit Insurance Corporation (PDIC) is set to sell on “as-is, where-is” basis 130 real properties with a combined minimum disposal value of P243.88 million in a public bidding to be held on August 1, 2012. Venue of bidding will be the 3rd Floor, Seminar Hall, Main Building, BSP Davao Regional Office, Quirino Avenue, Davao City.

Up for bidding are 42 condominium units, 29 parking spaces and 59 residential lots. The condominium units and parking spaces are located at Landco Corporate Center, Pryce Business Park, J.P. Laurel Avenue, Bajada, Davao City while the residential lots are located in Luzville Subdivision, Panacan, Davao City.

The list of assets and their descriptions can be accessed at the PDIC website, www.pdic.gov.ph. All inquiries should be coursed through the Office of the Vice President, Rosario C. Arnaldo, Asset Management and Disposal Group at telephone no. 841-4650.

PDIC will receive sealed bids only from direct buyers on August 1, 2012 from 9:00 a.m. to 2:00 p.m. No extension will be given for the submission of bids. Bidders are likewise advised to come early for the registration. Only bidders will be allowed entry to the venue.

Before submitting their bids, prospective buyers are advised to physically inspect the properties they are interested to buy, assess and verify the land titles and other documents; and determine unpaid taxes, fees or expenses. All bids must be accompanied by a bond or deposit equivalent to at least 10% of the submitted bid either in Cash or Manager’s Check or Cashier’s Check, or a combination thereof.

PDIC has posted “For Sale” signs in public and strategic areas within the localities. In addition to property descriptions, the vicinity maps and lot plans are also available through the PDIC website.

Bid documents such as Bid Forms, Conditions of Bid, and acceptable formats for the Special Power of Attorney and Secretary’s Certificate may be downloaded from the PDIC website.

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 permanent and continuing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is P500,000 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.