The Philippine Deposit Insurance Corporation (PDIC), Asiatrust Bank (ATB) and Onshore Strategic Assets, Inc. (OSAI), co-owners of a prime industrial lot located in Dasmarinas, Cavite, will accept sealed bids for said property from November 16, 2011 (starting at 8:00 a.m.) to November 22, 2011 (until 12:00 noon only).

The property is a 21,750 square meter industrial lot located at Km. 37, Aguinaldo Highway, Sitio Bucal, Barangay Sampaloc 2, Dasmariñas, Cavite referred to as DPMI Land. Minimum disposal price for the lot was set at P65.25 million. Bids will be accepted from direct buyers only. Bids should be submitted to the PDIC ROPA Management Department located at the 7/F SSS Bldg., 6782 Ayala Avenue corner Rufino St., Makati City.

Pursuant to Conditions of Bid, any bid lower than the minimum disposal price shall be automatically disqualified. The sale shall be in cash and on an “As-Is, Where-Is” basis. According to the co-owners, “As-Is, Where-Is” shall refer not only to the description and physical condition of the property but also to the condition of its title, other evidence of ownership and extent of rights, interests and participation the sellers have over the property at the time of the bidding. The winning bidder shall also assume all unpaid taxes, fees and/or expenses, such as, but not limited to capital gains tax or creditable withholding tax, documentary stamp tax, registration and transfer fees, and all other expenses and charges related to the sale and transfer of the title.

The required Bid Form, Conditions of Bid and standard format of the Special Power of Attorney and Secretary’s Certificate may be secured free of charge from the PDIC ROPA Management Department (telephone numbers, 841-4671 or 841-4669). Aforesaid documents are also posted in the PDIC website, www.pdic.gov.ph.

Each bid should be accompanied by a bond/deposit equivalent to at least ten percent (10%) of the submitted bid in the form of a Manager’s Check issued by a universal or reputable commercial bank payable to the Philippine Deposit Insurance Corporation. The winning bidder is required to pay the balance of the bid price within seven (7) working days after receipt of the Notice of Conditional Acceptance. Payment of the balance should also be in the form of a Manager’s Check issued by a universal or reputable commercial bank payable to the PDIC.

Interested buyers may call the PDIC ROPA Management Department at telephone numbers 841-4671 or 841-4669 for more information.