PDIC to sell 97 corporate, bank properties in August

The Philippine Deposit Insurance Corp. (PDIC) said Monday it will sell 97 corporate and closed bank properties through electronic public bidding (e-bidding).

Bids will be accepted via the PDIC e-bidding portal from 9 a.m. on Aug. 27, 2025 until 1 p.m. on Aug. 28, 2025. Bid opening is scheduled for 2 p.m. on Aug. 28, 2025.

The properties, to be sold on an “as-is, where-is” basis, include 31 vacant residential lots, 25 residential lots with improvements, 24 vacant agricultural lots, five agricultural lots with improvements, five memorial lots, three mixed residential/agricultural lots with improvements, two mixed vacant residential/agricultural lots and two commercial lots with improvements.

These properties, some with lot areas reaching up to 11 hectares, are located across Aklan, Bataan, Batangas, Cavite, Ilocos Sur, Iloilo, Isabela, Laguna, Lanao del Norte, Leyte, Negros Occidental, Negros Oriental, Nueva Ecija, Palawan, Pampanga, Pangasinan, Rizal, Romblon, Tarlac and Zambales.

PDIC asked interested parties to review the property catalog on the e-bidding portal for a complete list and description of properties, requirements, e-bidding process and conditions.

It encouraged due diligence to determine the actual condition, status, ownership and other circumstances of desired properties. Buyers are also reminded to carefully read the outlined e-bidding terms and conditions.

Winning bidders of agricultural properties should submit, within 15 days of the e-bidding, a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform stating the lot is not covered by the Comprehensive Agrarian Reform Program (CARP) and has no issued Emancipation Patent or Certificate of Land Ownership Awards.

They should also submit an Affidavit of Aggregate Landholdings within the same period, affirming that their collective landholdings, including the acquired property, do not exceed the five-hectare legal limit.

As the statutory receiver of closed banks, PDIC liquidates assets to maximize recovery and help settle claims of closed bank creditors, including uninsured depositors.

Proceeds from closed bank-owned properties go to a fund managed by PDIC for these banks to settle claims. Revenues from corporate asset sales are added to the Deposit Insurance Fund, which funds valid deposit insurance claims.