State-run Philippine Deposit Insurance Corp. (PDIC) said Monday it will sell its club share in Canlubang Golf and Country Club Inc. through a public bidding on Nov. 14, 2024.
Established in 1977 and developed by Laguna Estate Development Corp., Canlubang Golf and Country Club is a 210-hectare club in Canlubang, Laguna. Its amenities include a driving range, pitching and putting green, tee houses, gymnasium, restaurant and bar, function room, clubhouse, pro shop and coffee shop.
PDIC said it would accept the bids from interested parties from 9 a.m. to 1 p.m. Bids will be opened at 2 pm.
PDIC said that with a minimum disposal price of P7 million, the “as-is, where-is” bidding is open to Filipino individuals and foreign nationals as well as to corporations or associations that are at least 60-percent owned by Filipino citizens.
It said buyers would be responsible for the payment of all taxes, fees, broker’s commission, unpaid dues, and/or costs of transfer including other expenses that may be incurred relative to the approval and acceptance of membership to Canlubang Golf and Country Club.
“Bidders are reminded of their responsibility to completely determine the actual condition, status, ownership, and other circumstances of the club share they wish to acquire,” it said.
PDIC said proceeds from the sale of the club share would be added to the Deposit Insurance Fund, its funding source for payment of deposit insurance claims.
