PDIC to e-auction Davao condos, VisMin properties in February

The Philippine Deposit Insurance Corporation (PDIC) will hold an electronic public bidding from February 25 to 26, 2026, for a range of prime real estate assets, including commercial condominium units in Davao City and various residential and agricultural lots across the Visayas and Mindanao regions.

The two-day bidding event, conducted entirely online, will offer assets on an “as-is, where-is” basis.

Interested buyers must submit their bids via the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph beginning at 9:00 a.m. on February 25 until 1:00 p.m. on February 26.

Bids will be opened at 2:00 p.m. on February 26.

Among the featured properties are four commercial condominium units with four accompanying parking slots located at the Landco Corporate Centre, a prime business address in Davao City.

In addition, the portfolio includes 45 agricultural lots, 19 residential lots, and four mixed-use residential and agricultural properties.

Lot sizes range from 82 square meters to 10 hectares, with full property details, including descriptions, bidding procedures, and conditions, available through the PDIC e-bidding portal.

To participate, interested buyers must complete a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register.

PDIC urges bidders to conduct due diligence on any properties of interest to assess their current condition, ownership status, and other relevant factors.

PDIC also reminds prospective buyers to review the Conditions of Bid, which are posted on the e-bidding portal.

For agricultural properties, winning bidders are required to submit a certification from the Provincial Agrarian Reform Officer (PARO) and an Affidavit of Aggregate Landholdings within 15 days after the close of the e-bidding.

These documents must confirm that the property is not covered by the Comprehensive Agrarian Reform Program (CARP) and that the buyer’s total landholdings do not exceed the five-hectare legal limit.

Prescribed formats for the PARO certification and affidavit may be downloaded free of charge from the portal’s Download Center.

Buyers submitting bids on behalf of another individual or organization may also download the necessary pro-forma Special Power of Attorney or Secretary’s Certificate from the same site.

As the statutory receiver of closed banks, PDIC liquidates remaining bank assets to help pay off claims from creditors, including depositors with uninsured funds.

Proceeds from the sale of closed bank assets are placed in a fund managed by PDIC for settling those claims.

Meanwhile, revenues from the sale of corporate assets go to the Deposit Insurance Fund, which supports valid deposit insurance claims.

For further inquiries, interested buyers may contact the PDIC Public Assistance Department at (02) 8841-4141 during business hours.

Callers outside Metro Manila may reach PDIC’s toll-free hotline at 1-800-1-888-PDIC (1-800-1-888-7342).

Email inquiries can be sent to pad@pdic.gov.ph, or via private message on PDIC’s official Facebook pages: @PDICAssetsforSale and @OfficialPDIC.