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Residential, commercial lots up for sale via public e-bidding on July 22

MAKATI CITY -- The Philippine Deposit Insurance Corporation (PDIC) will sell 42 residential and commercial lots with an aggregate minimum disposal price of P100.3 million by way of electronic public bidding (e-bidding) on July 22, 2022.

To be sold on an “as-is, where-is” basis, these corporate and closed bank assets include 13 residential lots with improvements, five of which will be sold as one; 28 residential lots, and a commercial lot with improvement. Said properties are located in Agusan del Norte, Albay, Bataan, Laguna, Iloilo, and Negros Occidental. Lot sizes are between 150 and 20,003 square meters with minimum disposal prices ranging from P374,400 to P63.3 million.

Interested buyers may send their bids online through PDIC’s e-bidding portal at https://assetsforsale.pdic.gov.ph starting at 9:00 am on July 21, 2022, until 1:00 pm on July 22, 2022. Bids will be opened at 2:00 pm on July 22, 2022.

A one-time registration is required from interested buyers, which may be completed via the e-bidding portal at http://assetsforsale.pdic.gov.ph/Account/Register. Bidders may observe the e-bidding proceedings on the same portal that can be accessed by clicking the “Assets for Sale” icon on the PDIC website's homepage at www.pdic.gov.ph.

The complete list and description of the properties, requirements, e-bidding process, and Conditions of Bid are posted on the same portal. Bidders are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

For participants who are submitting bids on behalf of another individual or an organization, the standard format of the Special Power of Attorney and Secretary's Certificate, respectively, can likewise be downloaded from the e-
bidding 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 the mandated liquidator, the PDIC sells closed bank-owned 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. Meanwhile, proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC's main fund source for payment of valid deposit insurance claims. (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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