Manila: The Philippine Deposit Insurance Corporation (PDIC) is set to auction off 42 foreclosed properties from closed banks through a two-day electronic bidding scheduled for July 9 to 10.

According to Philippines News Agency, PDIC announced that the assets include a mix of agricultural, residential, commercial, and mixed-use lots spread across Luzon and Visayas. Bids will be accepted online via its e-bidding portal http://assetsforsale.pdic.gov.ph/Account/Register beginning at 9 a.m. on July 9 and will close at 1 p.m. on July 10. The opening of bids is scheduled for 2 p.m. on the final day.

The properties, which are to be sold on an as-is-where-is basis, consist of 11 vacant agricultural lots, 11 vacant residential lots, 10 residential lots with improvements, three agricultural lots with improvements, two commercial lots with improvements, two mixed residential/agricultural lots with improvements, two vacant mixed residential/agricultural lots, and a residential condominium.

The lots range in size from 39.41 square meters to 127,846 square meters and are located in various areas including Metro Manila, Aklan, Batangas, Cebu, Camarines Sur, Eastern Samar, Isabela, Laguna, Leyte, Masbate, Pangasinan, and Quezon. Winning bidders for agricultural properties must comply with additional legal requirements under the Comprehensive Agrarian Reform Program, which include submission of Department of Agrarian Reform certification and an affidavit of aggregate landholdings within 15 days of sale to confirm compliance with ownership limits.

The PDIC has urged prospective buyers to complete a one-time registration on the bidding portal and conduct due diligence by reviewing the detailed property listings, legal requirements, and conditions of sale available on the platform. Interested parties may contact PDIC Public Assistance Department at (02) 8841-4141 or toll-free at 1-800-1-888-7342. Questions may also be sent via email [email protected] or through PDIC's official Facebook page.