Manila: The Philippine Deposit Insurance Corporation (PDIC) will offer two prime commercial lots and other properties in Luzon through an electronic public bidding scheduled for July 8 and 9.
According to Philippines News Agency, the submission of bids will begin at 9 a.m. on July 8 and close at 1 p.m. on July 9, with the opening of bids set for 2 p.m. on the final day.
The properties up for sale include prime commercial lots situated in Naujan, Oriental Mindoro, and the City of San Jose del Monte, Bulacan. These properties, which were previously utilized as bank premises, have minimum disposal prices set at PHP3 million and PHP6.9 million, respectively.
In addition to these commercial lots, the e-bidding will feature 35 residential lots, 18 agricultural lots, and five mixed residential and agricultural properties. These lots vary in size from 42 square meters to 4.5 hectares and are located in various regions including Metro Manila, Albay, Batangas, Bulacan, Camarines Sur, Isabela, Laguna, La Union, Oriental Mindoro, Pangasinan, Quezon, Rizal, and Zambales.
The PDIC will facilitate the sale through its e-bidding portal at https://assetsforsale.pdic.gov.ph. Interested buyers can access a complete property catalogue, comprehensive property descriptions, bidding procedures, and requirements on this platform. The portal also allows for bid submissions from any location, following a one-time registration process for prospective buyers.
The PDIC urges all interested parties to exercise due diligence by verifying property details, ownership, and other pertinent factors before participating. Participants are also advised to thoroughly review all bidding conditions prior to submitting their bids.
As the statutory receiver of closed banks, the PDIC is tasked with liquidating the remaining assets of these banks to maximize recovery and facilitate the settlement of claims by creditors, including depositors with uninsured deposits. Proceeds from property sales are allocated to a fund managed by the Corporation to address these claims, while revenues from the sale of corporate assets bolster the Deposit Insurance Fund, which supports valid deposit insurance claims.
Interested parties in Metro Manila can reach out to the PDIC Public Assistance Department at (02) 8841-4141 during business hours. Those outside Metro Manila can contact the PDIC toll-free hotline at 1-800-1-888-PDIC or 1800-1-888-7342, also during office hours. Inquiries can be directed via e-mail to [email protected] or through private messages on the PDIC's Assets for Sale Facebook page (@PDICAssetsforSale) or their official Facebook page (@OfficialPDIC).
