Bids may be submitted starting 9 a.m. on Feb. 25 until 1 p.m. on Feb. 26 exclusively through the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph, PDIC said in a press statement.
The bids will be opened at 2 p.m. on Feb. 26. All properties will be offered on an “as-is, where-is” basis.
Prime Davao City properties
Among the featured assets are four commercial condominium units and four parking slots located at Landco Corporate Centre in Davao City, a prime area for business and commercial development.
PDIC said these properties are suitable for firms seeking office or investment space in one of Mindanao’s key urban centers.
Agricultural, residential lots included
The broader portfolio includes 45 agricultural lots, 19 residential lots, and four mixed residential and agricultural properties across Visayas and Mindanao.
Lot sizes range from as small as 82 square meters to as large as 10 hectares, offering options for both small-scale buyers and larger investors.
Interested parties may view the complete list of properties, along with detailed descriptions, bidding requirements, procedures, and conditions, on the PDIC e-bidding portal.
Registration, due diligence required
Prospective buyers must complete a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register to participate in this and future PDIC e-bidding events.
PDIC urged bidders to conduct their own due diligence to determine the properties’ actual condition, ownership, and legal status.
It also advised participants to carefully review the bid conditions posted on the portal before submitting offers.
Special requirements for agricultural lots
For agricultural properties, winning bidders are required to submit a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform within 15 days after the e-bidding.
The certification must confirm that the property is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no emancipation patent or certificate of land ownership award has been issued.
Winning buyers must also submit an affidavit stating that their aggregate landholdings, including properties acquired during the bidding, do not exceed the five-hectare limit prescribed by law.
Prescribed formats for these documents, as well as pro-forma Special Powers of Attorney and Secretary’s Certificates for authorized bidders, are available for free on the e-bidding portal.
Supporting depositors, creditors
As the statutory receiver of closed banks, PDIC liquidates remaining bank assets to maximize recovery and help pay claims of closed-bank creditors, including depositors with uninsured deposits.
Proceeds from closed-bank asset sales go directly to funds used to settle creditor claims, while revenues from corporate asset sales are added to the Deposit Insurance Fund, the source of valid deposit insurance payouts. —Ed: Corrie S. Narisma
