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Agricultural lots up for electronic bidding on March 31

MAKATI CITY -- The Philippine Deposit Insurance Corporation (PDIC) is set to sell 26 agricultural lots via electronic public bidding (e-bidding) on March 31, 2022.

To be sold individually and on an “as-is, where-is” basis are 23 vacant agricultural lots, two mixed agricultural/residential lots with improvements, and one vacant mixed agricultural/residential lot located in Bulacan, Eastern Samar, Marinduque, Palawan, Pangasinan, and Sultan Kudarat.

Interested buyers may send their bids online via the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph starting 9:00 am on March 30, 2022, to 1:00 pm on March 31, 2022. Bids will be opened at 2:00 pm on March 31, 2022. A one-time registration to the e-bidding portal is required from interested buyers.

For procedures on the one-time registration, interested buyers may visit the e-bidding portal at https://assetsforsale.pdic.gov.ph/Account/Register.

Property sizes of the agricultural lots are between 560 and 100,000 square meters with the minimum disposal prices ranging from P183,000 to P4.9 million.

Combined, the minimum disposal price of the 26 properties amounts to P44.2 million.

The complete list and description of the properties, requirements, e-bidding process, and Conditions of Bid are posted on the e-bidding portal. Bidders are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire. As part of the bid requirements, bidders must submit a Certification, issued by the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform where the property is located, that the property subject of the bid is not covered by the Comprehensive Agrarian Reform Program (CARP), and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property.

All bidders are also required to submit an Affidavit of Aggregate Land Holdings, which states that the person's aggregate landholdings - including the property/ies to be acquired during the bidding - do not exceed the five-hectare limit set by law. The standard format for this Affidavit can be downloaded from the e-bidding portal.

For participants who are submitting bids on behalf of another individual or an organization, respectively, the standard format of the Special Power of Attorney and Secretary's Certificate can likewise be downloaded from the said portal.

For more information on the e-bidding, interested buyers may call 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 1-800-1-888-7342, 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).

As a liquidator, the PDIC disposes of various closed bank assets through public biddings and negotiated sales. Proceeds from the liquidation of closed banks' properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors subject to the rules on concurrence and preference of credits. The disposal of these assets increases the chances
of recovery of uninsured depositors and creditors of their trapped funds in the closed banks. (PDIC)

About the Author

Kate Shiene Austria

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Central Office

Information Officer III under the Office of the Deputy Director-General-Digital Development Communications Unit of Philippine Information Agency. 

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