PDIC offers 76 Luzon properties in October e-bidding

The Philippine Deposit Insurance Corp. will offer 76 residential, agricultural, and mixed-use properties in Luzon through electronic public bidding on Oct. 21–22, giving qualified buyers access to assets in Metro Manila and eight provinces while helping recover funds for creditors and depositors of closed banks.

The sale forms part of PDIC’s mandate to liquidate assets efficiently and maximize recoveries from closed banks. Proceeds from closed bank-owned properties are used to settle creditors’ claims, including those of depositors with uninsured deposits, making the asset-disposal program part of the broader process of resolving failed banks and protecting financial-system stability.

Bids will be accepted through the PDIC Assets for Sale portal beginning at 9 a.m. on Oct. 21 until 1 p.m. on Oct. 22.

The opening of bids is scheduled for 2 p.m. on Oct. 22.

Among the properties are 14 residential assets in various cities and municipalities in Laguna.

Laguna’s location south of Metro Manila and its access to major transportation corridors, including the South Luzon Expressway and Cavite-Laguna Expressway, connect the province to major manufacturing and commercial centers.

PDIC said Laguna has also been attracting prospective residents seeking homes in a high-growth area that combines suburban development with more rural communities.

The e-bidding will include 12 vacant agricultural properties and five vacant residential properties in Palawan.

Minimum bid prices for the Palawan properties start at PHP 64,270.00.

PDIC cited the province’s expanding infrastructure and demand related to agribusiness and ecotourism as factors that could support interest in the properties.

The remaining portfolio includes 19 vacant residential properties. Another 13 properties are classified as residential with improvements.

The offering also includes six vacant agricultural properties.

Five properties are classified as mixed residential and agricultural. Two properties are classified as agricultural with improvements.

The properties are located across Metro Manila, Albay, Batangas, Cavite, Laguna, Palawan, Quezon, Rizal, and Romblon.

The public bidding is open to all qualified buyers who register through PDIC’s e-bidding portal.

Prospective bidders are encouraged to complete the portal’s one-time registration process, which can also be used for future PDIC asset-disposal activities.

The portal provides the complete property catalog, individual property information, bidding guidelines, and documentary requirements.

Participants bidding on behalf of another person or an organization may also obtain the prescribed Special Power of Attorney and Secretary’s Certificate forms through the platform.

All properties will be sold on an as-is-where-is basis.

PDIC advised prospective buyers to conduct comprehensive due diligence covering the physical condition, legal status, and ownership of a property before submitting a bid.

Participants were also reminded to review the Conditions of Bid to ensure compliance with the auction procedures.

Successful bidders for agricultural properties must submit two documents within 15 days of the e-bidding event.

One requirement is an Affidavit of Aggregate Landholdings.

The other is a certification from the Department of Agrarian Reform’s Provincial Agrarian Reform Officer, or PARO, in the locality where the property is situated.

The PARO certification must confirm that the property is not covered by the Comprehensive Agrarian Reform Program.

It must also certify that no Emancipation Patent or Certificate of Land Ownership Award has been issued for the property.

The affidavit must confirm that the successful bidder’s total landholdings, including the newly acquired property, remain within the legal limit of five hectares.

Standard templates for the two documents are available through the Download Center of the PDIC Assets for Sale portal.

As statutory receiver, PDIC liquidates the remaining assets of closed banks to maximize recoveries and help settle claims by their creditors.

These creditors include depositors whose balances exceed the amounts covered by deposit insurance.

Proceeds from the sale of properties owned by closed banks go directly to funds managed by PDIC for those banks and are used to settle creditors’ claims.

Revenue from the sale of PDIC corporate assets, meanwhile, is added to the Deposit Insurance Fund, which finances valid deposit insurance claims.

Interested buyers in Metro Manila may contact the PDIC Public Assistance Department at (02) 8841-4141 during office hours.

Those outside Metro Manila may call the toll-free hotline at 1-800-1-888-PDIC or 1800-1-888-7342 during office hours.

Inquiries may also be sent by email to pad@pdic.gov.ph.

Prospective bidders may also contact PDIC through private message on its Assets for Sale Facebook page, @PDICAssetsforSale, or its official Facebook page, @OfficialPDIC.

PDIC was established on June 22, 1963, under Republic Act 3591 to protect depositors and help maintain stability in the financial system.

The corporation is an attached agency of the Bangko Sentral ng Pilipinas.

PDIC is also a member of the Financial Sector Forum, Financial Stability Coordination Council, and Financial Inclusion Steering Committee.