The Philippine Deposit Insurance Corporation (PDIC) will be offering for sale 75 properties based in Luzon through electronic public bidding (e-bidding) via the PDIC Assets for Sale site, https://assetsforsale.pdic.gov.ph, with bids to be accepted from 9:00 a.m. on October 14 until 1:00 p.m. on October 15, and the opening of bids at 2:00 p.m. on October 15.
Headlining the portfolio of properties are 16 vacant agricultural lots in the provinces of Cagayan and Isabela, sitting at the heart of the Cagayan Valley, the country’s rice granary.
With the region’s expanding agro-industrial infrastructure, these properties, with lot areas reaching up to 11 hectares, are well-suited for farming operations with the benefit of long-term land appreciation.
These lots will be offered along with 15 other vacant agricultural lots in Benguet, La Union, Pangasinan, and Tarlac at minimum bid prices starting at P164,000, affording buyers great opportunities to acquire land suitable for agricultural use.
The e-bidding will also offer 21 vacant residential properties in the provinces of Pangasinan, Cagayan, Isabela, Nueva Ecija, and Tarlac.
With minimum bid prices ranging from P196,600 to P1.9 million, these properties give buyers great prospects to own residential lots with wide options of turning them into homes, rental properties, and other long-term property ventures.
Completing the Luzon portfolio for the e-bidding are 16 properties classified as residential lots with improvements, six properties classified as mixed residential/agricultural, and one agricultural property with improvements.
These properties are situated in Bulacan, Cagayan, Isabela, La Union, Nueva Ecija, Pangasinan, and Tarlac.
The public bidding is open to all qualified buyers who register through the PDIC’s e-bidding portal.
Prospective buyers are encouraged to complete the one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register to participate in the said public e-bidding and future asset disposal activities.
Interested buyers can also access the complete property catalogue, detailed property information, bidding guidelines, and documentary requirements through the same portal.
Participants bidding on behalf of another individual or an organization may likewise download the prescribed Special Power of Attorney and Secretary’s Certificate forms from the e-bidding portal.
Properties are sold on an as-is-where-is basis and, as such, bidders are encouraged to perform comprehensive due diligence covering property condition, status, and ownership prior to submitting bids.
Participants are also reminded to review the Conditions of Bid posted on the portal to ensure full compliance with established procedures.
Successful bidders for agricultural properties are required to submit two key documents within fifteen (15) days of the e-bidding event: an Affidavit of Aggregate Landholdings and a certification from the local Department of Agrarian Reform’s Provincial Agrarian Reform Officer (PARO).
The PARO certification must verify that the property is not subject to the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Award has been issued.
Additionally, the Affidavit must confirm that the bidder’s total landholdings, including the acquired property, remain within the five-hectare legal limit.
Standardized templates for both documents are available for download via the Download Center at https://assetsforsale.pdic.gov.ph.
As the statutory receiver, the PDIC liquidates the remaining assets of closed banks to maximize recoveries and help settle claims of closed bank creditors, including depositors with uninsured deposits.
Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims, while revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source for valid deposit insurance claims.
For more information on the e-bidding, interested buyers within Metro Manila may contact 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 1800-1-888-7342, 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).
