PDIC to e-bid VisMin lots on May 20–21

The Philippine Deposit Insurance Corp. will hold an electronic public bidding for residential and agricultural lots in the Visayas and Mindanao on May 20–21, 2026, offering buyers a chance to acquire properties previously owned by closed banks.

PDIC said bid submissions will open at 9 a.m. on May 20 and close at 1 p.m. on May 21, while the opening of bids is scheduled for 2 p.m. on the same day.

The properties will be sold exclusively through PDIC’s e-bidding portal, which the state deposit insurer said allows buyers to join the auction remotely through a secure and fully digital platform.

Leading the offerings are 10 properties in Cebu City, Naga City and San Fernando in Cebu province, areas PDIC identified as strong long-term investment locations because of their economic activity, infrastructure projects, job opportunities and relatively affordable prices.

Cebu City remains the main economic and tourism center of Central Visayas, while Naga City is known as the “Industrial City of Southern Cebu,” and San Fernando is emerging as a suburban growth area within Metro Cebu.

PDIC is also offering 25 more properties in Agusan del Norte, Bohol, Iloilo, South Cotabato and Southern Leyte, widening the range of choices for buyers looking at provincial locations across the Visayas and Mindanao.

Interested buyers may check the property catalog, descriptions, bidding procedures and requirements through the official PDIC e-bidding portal, where a one-time registration is required for participation in this auction and future asset sales.

All properties will be sold on an “as-is, where-is” basis, and PDIC urged prospective buyers to conduct due diligence on the condition of the properties, ownership records and other relevant considerations before submitting bids.

The corporation also advised participants to review all conditions of bid carefully before taking part in the auction.

Winning bidders for agricultural properties must submit within 15 days after the e-bidding a certification from the Provincial Agrarian Reform Officer of the Department of Agrarian Reform and an affidavit of aggregate landholdings.

PDIC said the PARO certification must state that the agricultural lot is not covered by the Comprehensive Agrarian Reform Program and that no Emancipation Patent or Certificate of Land Ownership Award has been issued for the property.

The affidavit, meanwhile, must declare that the winning bidder’s total landholdings, including the property or properties acquired in the auction, do not exceed the five-hectare limit set by law.

The prescribed formats for the certification and affidavit, as well as the pro-forma Special Power of Attorney and Secretary’s Certificate for those bidding for another person or an organization, may be downloaded free from the portal’s Download Center.

As statutory receiver, PDIC liquidates the remaining assets of closed banks to maximize recoveries and help settle claims of creditors, including depositors with uninsured deposits.

Proceeds from the sale of these bank-owned properties are placed in funds managed by PDIC for the closed banks and used to pay creditors’ claims.

Buyers in Metro Manila may contact PDIC’s Public Assistance Department at (02) 8841-4141 during office hours, while those outside the capital may call the toll-free hotlines 1-800-1-888-PDIC or 1800-1-888-7342.

Inquiries may also be sent by email to pad@pdic.gov.ph or through private message on PDIC’s Assets for Sale Facebook page and its official Facebook page.

Established on June 22, 1963, by Republic Act 3591, PDIC is an attached agency of the Bangko Sentral ng Pilipinas tasked with protecting depositors and helping maintain stability in the financial system.

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