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The Philippine Deposit Insurance Corporation (PDIC) is set to offer for sale 70 properties based in Luzon through electronic public bidding (e-bidding) at https://assetsforsale.pdic.gov.ph, with bid submissions accepted from 9:00 am on September 23 until 1:00 pm on September 24, and bids to be opened at 2:00 pm on September 24.

Headlining the portfolio of properties for disposal is a 240-square-meter prime commercial lot with improvement located in Barangay Magasawang-Tubig, Naujan, Oriental Mindoro. Set at a minimum bid price of P3.1 million, the property is strategically situated along the Western Nautical Highway, providing convenient access to key commercial areas and serving as a vital transport corridor connecting Naujan to other parts of Oriental Mindoro.

The e-bidding will also offer 69 other assets, comprising 51 properties classified as residential, 17 properties classified as agricultural, and one mixed residential/agricultural property with improvement. With areas ranging from 75 square meters to 15 hectares, these properties offer diverse options for individual buyers, developers, agribusiness investors, and commercial enterprises alike. These properties are located in Albay, Batangas, Camarines Sur, Isabela, Laguna, Palawan, Pangasinan, Romblon, and Sorsogon.

The public bidding is open to all qualified buyers who register through the PDIC's e-bidding portal. Prospective buyers are encouraged to complete the one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register to participate in the said public e-bidding and future asset disposal activities. Interested buyers can also access the complete property catalogue, detailed property information, bidding guidelines, and documentary requirements through the same portal. Participants bidding on behalf of another individual or an organization may likewise download the prescribed Special Power of Attorney and Secretary's Certificate forms from the e-bidding portal.

Properties are sold on an as-is-where-is basis and as such, bidders are encouraged to perform comprehensive due diligence covering property condition, status, and ownership prior to submitting bids. Participants are also reminded to review the Conditions of Bid posted on the portal to ensure full compliance with established procedures.

Successful bidders for agricultural properties are required to submit two key documents within fifteen (15) days of the e-bidding event: an Affidavit of Aggregate Landholdings and a certification from the local Department of Agrarian Reform's Provincial Agrarian Reform Officer (PARO). The PARO certification must verify that the property is not subject to the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Award has been issued. Additionally, the Affidavit must confirm that the bidder's total landholdings, including the acquired property, remain within the five-hectare legal limit. Standardized templates for both documents are available for download via the Download Center at https://assetsforsale.pdic.gov.ph.

As the statutory receiver, the PDIC liquidates the remaining assets of closed banks to maximize recoveries and help settle claims of closed bank creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors' claims, while revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source for valid deposit insurance claims.

For more information on the e-bidding, interested buyers within Metro Manila may contact the PDIC Public Assistance Department at (02) 8841-4141 during office hours. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-PDIC or 1800-1-888-7342, also during office hours. Inquiries may also be sent via e-mail at pad@pdic.gov.ph or private message on PDIC's Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC's official Facebook page (@OfficialPDIC).

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