The Philippine Deposit Insurance Corporation (PDIC) is set to sell through electronic public bidding (e-bidding) a total of 35 residential lots on its e-bidding portal, https://assetsforsale.pdic.gov.ph, starting at 9:00 am on August 28, 2024 until 1:00 pm on August 29, 2024. Bids shall be opened at 2:00 pm on August 29, 2024.
Prospective parties can join the e-bidding through a one-time registration on the portal at http://assetsforsale.pdic.gov.ph/Account/Register. 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.
To be sold on an “as-is, where-is” basis are 18 residential lots with improvements and 17 vacant residential lots which are either owned by closed banks or acquired by the PDIC. These properties are located in Metro Manila, Bataan, Benguet, Cagayan, Camarines Sur, Cavite, Laguna, Nueva Ecija, Pampanga, Pangasinan, Quezon, Quirino, Rizal, Cebu, Maguindanao and North Cotabato. Property sizes range from 103 square meters to 7,941 square meters.
Interested parties 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.
Participants bidding on behalf of another individual or an organization can download the Pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-bidding portal.
As the statutory receiver of closed banks, the PDIC liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.
Meanwhile, revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source to pay valid deposit insurance claims.
For more information on the e-bidding, interested buyers within Metro Manila may call the PDIC Public Assistance Department at (02) 8841-4141 during office hours. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-PDIC or 1-800-1-888-7342, also during office hours. Inquiries may also be sent via e-mail at pad@pdic.gov.ph,
or private message on PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC’s official Facebook page (@OfficialPDIC).
