PDIC to auction 73 closed bank properties via e-bidding

The Philippine Deposit Insurance Corporation (PDIC) will hold an electronic public bidding (e-bidding) for 73 real estate assets from closed banks on July 23 to 24, the agency announced Friday.

The properties up for sale include a wide mix of lots: 20 vacant agricultural, 20 residential with improvements, 19 vacant residential, five mixed vacant residential/agricultural, four mixed residential/agricultural with improvements, two agricultural with improvements, one commercial with improvements, one vacant commercial, and one mixed commercial/residential lot with improvements.

Ranging from 71 to 142,905 square meters in size, the properties are located in various provinces including Metro Manila, Aklan, Albay, Bohol, Camarines Sur, Iloilo, Isabela, Laguna, Lanao del Norte, Negros Oriental, Pangasinan, Rizal, and Tarlac.

PDIC said electronic bids may be submitted through its portal https://assetsforsale.pdic.gov.ph from 9:00 a.m. on July 23 until 1:00 p.m. on July 24. Bids will be opened at 2:00 p.m. on the final day.

Interested buyers must register once at http://assetsforsale.pdic.gov.ph/Account/Register to participate. They may also view the bidding process by clicking the “Assets for Sale” icon on www.pdic.gov.ph.

The e-bidding portal offers a full catalog of properties, along with descriptions, requirements, terms of sale, and bid guidelines. Prospective bidders are advised to do their own due diligence before submitting offers.

PDIC reminded bidders of their responsibility to verify the condition, ownership status, and legal background of properties.

For those winning bids on agricultural land, two documents are required within 15 days: (1) a certification from the Department of Agrarian Reform confirming the lot is not covered by land reform programs, and (2) an Affidavit of Aggregate Landholdings stating that total land ownership, including the newly acquired property, does not exceed five hectares as required by law.

The PDIC conducts these asset sales to recover funds from closed banks, with all proceeds used to pay creditors, including depositors with uninsured accounts.