Markus Castro
The Philippine Deposit Insurance Corporation (PDIC) will offer 70 properties in Luzon through an electronic public bidding scheduled for September 23 and 24, giving buyers opportunities to acquire residential, agricultural, commercial, and mixed-use assets.
The e-bidding will take place through the PDIC Assets for Sale portal, with bid submissions opening at 9:00 a.m. on September 23 and closing at 1:00 p.m. on September 24. The bids will be opened at 2:00 p.m. on September 24.
Prime Commercial Property in Oriental Mindoro
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One of the featured properties is a 240-square-meter commercial lot with improvements in Barangay Magasawang-Tubig, Naujan, Oriental Mindoro.
The property carries a minimum bid price of PHP 3.1 million. Its location along the Western Nautical Highway provides convenient access to commercial areas in Naujan and connects the municipality to other parts of Oriental Mindoro.
Its strategic location could make it appealing to buyers seeking a commercial property with access to a major transportation corridor.
69 More Properties Up for Bidding
Beyond the Oriental Mindoro commercial property, the September auction includes 69 other assets with property sizes ranging from 75 square meters to 15 hectares.
The portfolio consists of:
- 51 residential properties
- 17 agricultural properties
- 1 mixed residential/agricultural property with improvements
The properties are spread across Albay, Batangas, Camarines Sur, Isabela, Laguna, Palawan, Pangasinan, Romblon, and Sorsogon.
The wide range of property types and sizes could appeal to individual homebuyers, property developers, agricultural investors, and businesses seeking land across different parts of Luzon.
How to Join the PDIC E-Bidding
The public auction is open to qualified buyers who complete the registration process through the PDIC e-bidding portal.
Interested participants must complete the one-time registration before joining the auction. The portal also provides access to the property catalog, detailed property information, bidding guidelines, and documentary requirements.
Buyers bidding on behalf of another person or organization can also download the required Special Power of Attorney and Secretary’s Certificate forms from the portal.
Buyers Advised to Conduct Due Diligence
All properties are being sold on an “as-is-where-is” basis. PDIC advises prospective buyers to conduct thorough due diligence before submitting their bids.
This includes checking the property’s physical condition, ownership and legal status, and other relevant documents and circumstances that may affect the purchase.
Bidders should also carefully review the Conditions of Bid available through the PDIC e-bidding portal to ensure they meet all requirements and follow the prescribed procedures.
Additional Requirements for Agricultural Properties
Buyers bidding on agricultural properties must comply with additional documentary requirements.
Successful bidders are required to submit the following documents within 15 days of the e-bidding event:
- An Affidavit of Aggregate Landholdings
- A certification from the local Department of Agrarian Reform’s Provincial Agrarian Reform Officer (PARO)
The PARO 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 for the property.
The affidavit must also confirm that the bidder’s total landholdings, including the property being acquired, remain within the five-hectare legal limit.
Templates for the required documents are available through the PDIC Assets for Sale portal’s Download Center.
Why PDIC Sells Closed-Bank Properties
As the statutory receiver of closed banks, PDIC disposes of the remaining bank assets to maximize recoveries and help settle creditors’ claims, including those of depositors with uninsured deposits.
Proceeds from the sale of properties owned by closed banks are placed in funds managed by PDIC for the respective closed banks and are used to settle creditors’ claims.
Meanwhile, proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, which serves as the funding source for valid deposit insurance claims.
Where to Get More Information
Prospective buyers can access the complete property listings, bidding requirements, registration details, and other information through the PDIC Assets for Sale e-bidding portal.
For inquiries, buyers in Metro Manila may contact 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 1800-1-888-7342 during office hours.
Questions may also be sent through pad@pdic.gov.ph, the PDIC Assets for Sale Facebook page @PDICAssetsforSale, or the PDIC official Facebook page @OfficialPDIC.
With properties ranging from residential lots to large agricultural parcels, as well as a strategically located commercial property in Oriental Mindoro, the September PDIC e-bidding offers prospective buyers several options across Luzon. Interested participants should review the listings early, complete their registration, and conduct proper due diligence before submitting a bid.
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