PDIC to sell 55 properties

The Philippine Deposit Insurance Corp. (PDIC) said it will conduct a public e-bidding on Feb. 28 to 29 to dispose 55 properties which are closed banks’ assets worth P115.1 million.

In a statement, PDIC said it will accept bids for these properties on its public e-bidding portal at https://assetsforsale.pdic.gov.ph starting at 9am on Feb. 28 until 1pm on Feb. 29. Bids will be opened at 2pm on Feb. 29.

According to the deposit insurer, “the diverse range of properties provides potential buyers with a variety of options for ownership, investment or development.”

Up for bid on “as is, where is” basis are 23 vacant agricultural lots; 17 agricultural lots; eight mixed residential/agricultural lots with improvements; four agricultural lots with improvement; two mixed vacant residential/agricultural lots; and one mixed residential/agricultural.

These properties are located in Aklan, Antique, Batangas, Bohol, Camarines Sur, Cavite, Isabela, La Union, Laguna, Marinduque, Misamis Oriental, Negros Occidental, Pangasinan, Quezon and South Cotabato. Property sizes range from 305 square meters to 78,917 square meters with minimum disposal prices ranging from P36,600 and P20 million.

“The funds generated from the sale of these properties shall augment the PDIC’s and closed banks’ financial portfolios to settle the insurance claims of depositors, and of closed bank creditors, respectively,” said PDIC.

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The article was originally published in Manila Bulletin and written by Lee C. Chipongian.