The Market Monitor Minding the Nation's Business
The Philippine Deposit Insurance Corporation (PDIC) will dispose of 44 real properties across Visayas and Mindanao through an electronic public bidding (e-bidding) scheduled next month, as part of its continuing effort to liquidate assets of closed banks.
In a statement last week, PDIC said bid submissions will be accepted from 9 a.m. on June 17 until 1 p.m. on June 18, with the opening of bids set at 2 p.m. on the same day.
The properties include 24 residential lots, 19 agricultural lots, and one mixed-use property, ranging in size from 80 square meters to 19.5 hectares.
Nine of the properties are located in Koronadal City, while the rest are spread across Antique, Cebu, Guimaras, Iloilo, Agusan del Norte, Maguindanao, Sultan Kudarat, North Cotabato, and South Cotabato.
Prospective buyers may participate through PDIC’s official e-bidding portal after completing a one-time online registration via https://assetsforsale.pdic.gov.ph/Account/Register or through the agency’s website at https://www.pdic.gov.ph.
Once registered, bidders may submit offers electronically and access the full catalogue of properties, including descriptions, requirements, and bidding guidelines.
The PDIC reminded interested buyers to conduct due diligence before placing bids, including verifying the condition, ownership status, and other legal circumstances of the properties.
As the statutory receiver of closed banks, PDIC manages and liquidates remaining assets to help settle obligations, including claims of uninsured depositors and other creditors.
Proceeds from property sales go into funds used to settle liabilities of closed banks, while corporate asset revenues are added to the Deposit Insurance Fund, which supports insured deposit claims.
For inquiries, the public may contact the PDIC Public Assistance Department at (02) 8841-4141 or its toll-free hotline at 1-800-1-888-7342 during office hours, or reach the agency via email at pad@pdic.gov.ph or its official social media pages.