Manila: The Philippine Deposit Insurance Corporation (PDIC) is set to auction off various real estate properties and transportation equipment through an electronic public bidding process scheduled for October 29-30.
According to Philippines News Agency, PDIC announced that it will accept online bids via its e-bidding portal at https://assetsforsale.pdic.gov.ph. Bidding will commence at 9 a.m. on October 29, 2025, and close at 1 p.m. on October 30, 2025. The bid opening will occur at 2 p.m. on the final day of bidding.
The assets up for sale include 34 vacant agricultural lots, 15 vacant residential lots, eight residential lots with improvements, three agricultural lots with improvements, two commercial lots with improvements, two mixed residential or agricultural lots with improvements, one mixed commercial or residential lot with improvements, one mixed vacant residential or agricultural lot, one agricultural lot, two vehicles, and a generator set. These properties are located across Aklan, Apayao, Batangas, Bohol, Camarines Sur, Capiz, Cavite, Cebu, Ilocos Norte, Isabela, La Union, Laguna, Leyte, Mindoro Occidental, Misamis Oriental, Negros Oriental, Pangasinan, Sultan Kudarat, Tarlac, and Zamboanga del Norte. The vehicles and generator are situated in Barcenaga, Naujan, Oriental Mindoro.
Interested buyers can participate in the e-bidding by registering once on the portal at https://assetsforsale.pdic.gov.ph/Account/Register or by accessing the portal through the 'Assets for Sale' icon on the PDIC website's homepage at www.pdic.gov.ph. Once registered, prospective buyers may proceed to submit their bids online.
The PDIC encourages interested parties to explore the property catalog available on the e-bidding portal, where they can find detailed descriptions of the properties, requirements, bidding procedures, and terms. Prospective bidders are advised to conduct due diligence on the properties to assess their condition, status, ownership, and other relevant factors.
As the statutory receiver of closed banks, the PDIC is responsible for liquidating the remaining assets of these institutions to maximize recovery and aid in settling claims from closed bank creditors, including depositors with uninsured deposits. The proceeds from the sale of properties owned by closed banks are allocated to a fund managed by the Corporation to settle creditors' claims. Additionally, revenues generated from the sale of corporate assets contribute to the Deposit Insurance Fund, which serves as the source for valid deposit insurance claims.