PDIC to hold e-bidding for residential lots in August

The Philippine Deposit Insurance Corporation (PDIC) is set to conduct an electronic public bidding for 35 residential lots through its e-bidding portal from 9:00 a.m. on August 28, 2024, until 1:00 p.m. on August 29, 2024.

The opening of bids will take place at 2:00 p.m. on August 29, 2024.

Interested buyers can join the e-bidding after completing a one-time registration on the portal at PDIC Assets for Sale.

Registered participants can submit bids online and observe the proceedings by clicking the “Assets for Sale” icon on the PDIC website’s homepage.

The properties, sold on an “as-is, where-is” basis, include 18 residential lots with improvements and 17 vacant residential lots.

These properties, owned by closed banks or acquired by PDIC, are located across Metro Manila, Bataan, Benguet, Cagayan, Camarines Sur, Cavite, Laguna, Nueva Ecija, Pampanga, Pangasinan, Quezon, Quirino, Rizal, Cebu, Maguindanao, and North Cotabato. Sizes range from 103 to 7,941 square meters.

Prospective bidders can browse the property catalog on the e-bidding portal, where they will find the complete list and description of properties, requirements, e-bidding process, and Conditions of Bid.

PDIC encourages participants to familiarize themselves with the terms and conditions and to verify the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

For those bidding on behalf of another individual or organization, the Pro-forma Special Power of Attorney and Secretary’s Certificate can be downloaded from the e-bidding portal.

As the statutory receiver of closed banks, PDIC liquidates the remaining assets of these banks to maximize recovery and pay claims of creditors, including depositors with uninsured deposits.

Proceeds from the sale of closed bank-owned properties are added to a fund managed by PDIC to settle creditors’ claims.

Revenues from the sale of corporate assets contribute to the Deposit Insurance Fund, which is used to pay valid deposit insurance claims.

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

Those outside Metro Manila can call the toll-free hotline at 1-800-1-888-PDIC or 1-800-1-888-7342.

Inquiries can also be sent via email at pad@pdic.gov.ph or through private messages on the PDIC Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC’s official Facebook page (@OfficialPDIC).