State-run Philippine Deposit Insurance Corp. (PDIC) said it will hold an electronic public bidding to sell 37 residential and commercial lots to the public on its e-bidding portal next month.
The e-bidding will run from 9 a.m. on July 24 to 1 p.m. on July 25. The bids will be opened at 2 p.m. on July 25.
It said interested parties can browse through the PDIC’s e-bidding portal a complete list and description of the assets, requirements, e-bidding process and conditions of the bid.
The catalog of the properties for sale are closed bank assets sold on as-is-where-is basis, consisting of 20 residential lots with improvements, 11 vacant residential lots, two commercial lots with improvements, one commercial lot with improvements (bundled with a vacant residential lot), two mixed commercial-residential lots with improvements (one is bundled with a residential lot) and one vacant commercial lot.
PDIC said these assets are located in Metro Manila, Bataan, Bulacan, Cavite, Cebu, Iloilo, Laguna, Misamis Occidental, Negros Occidental, Nueva Ecija, Pangasinan, Quezon, Sultan Kudarat, Tarlac, Western Samar.
Lot sizes range from 100 square meters to 7,535 sq. m.
PDIC asked prospective bidders to get familiar with the terms and conditions that they outline and reminded them of their responsibility to determine the actual condition, status, ownership and other circumstances of the properties they wish to acquire.
PDIC, the statutory receiver of closed banks, liquidates the remaining assets of the closed banks to maximize their recovery and help them pay claims of closed bank creditors, including depositors with uninsured deposits.
It said the proceeds from the sale will go directly to a fund that the corporation manages for these closed banks to settle creditors’ claims.