The Philippine Deposit Insurance Corporation (PDIC) plans selling through electronic public bidding (e-bidding) a total of 43 residential, agricultural and mixed-use lots.

Electronic bids will be accepted through the PDIC e-bidding portal, https://assetsforsale.pdic.gov.ph starting at 9 am on 5 February 2025 until 1 p.m. on 6 February 2025 and will be opened at 2 p.m. on 6 February 2025.

To be sold on an as-is-where-is basis are closed banks’ assets consisting of 17 residential lots with improvements, 10 vacant residential lots, nine agricultural lots, three residential or agricultural lots with improvements, two vacant residential or agricultural lots, and two agricultural lots with improvements.

Property areas range from 105 to 67,143 square meters.

Prospective parties can join the e-bidding through a one-time registration on the portal at http://assetsforsale.pdic.gov.ph/Account/Register.

Online bids allowed

Once registered, buyers may submit their bids online and observe the e-bidding proceedings by clicking the “Assets for Sale” icon on the PDIC website’s homepage at www.pdic.gov.ph.

Interested buyers can browse through the catalog of properties on the e-bidding portal where the complete list and description of the properties, requirements, e-bidding process and Conditions of Bid are posted. Prospective bidders are encouraged to get familiar with the terms and conditions outlined by the PDIC and are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

Winning bidders of agricultural properties are required to submit, within 15 days after the e-bidding, a certification issued by the Provincial Agrarian Reform Officer of the Department of Agrarian Reform where the property is located that the agricultural lot subject to the bid is not covered by the Comprehensive Agrarian Reform Program and that no emancipation patent or Certificate of Land Ownership Awards has been issued for the property.

Winning bidders are also required to submit an Affidavit of Aggregate Landholdings within the same period, which states that the person’s collective landholdings, including the property/ies to be acquired during the bidding, do not exceed the five-hectare limit set by law.