PDIC to sell 70 Luzon properties in September

The Philippine Deposit Insurance Corp. (PDIC) said it will offer 70 properties in Luzon for sale through electronic public bidding, with bid submissions accepted from 9 a.m. on Sept. 23 until 1 p.m. on Sept. 24, according to the state deposit insurer.

Bids will be opened at 2 p.m. on Sept. 24, PDIC said. Interested buyers can submit bids through the agency’s e-bidding portal.

A 240-square-meter prime commercial lot with improvement in Barangay Magasawang-Tubig, Naujan, Oriental Mindoro, headlines the portfolio, PDIC said.

The property, set at a minimum bid price of P3.1 million, sits along the Western Nautical Highway, giving it access to key commercial areas and serving as a transport corridor connecting Naujan to other parts of Oriental Mindoro.

The remaining 69 properties comprise 51 residential properties, 17 agricultural properties and one mixed residential/agricultural property with improvement, PDIC said.

The properties range from 75 square meters to 15 hectares in size and are located in Albay, Batangas, Camarines Sur, Isabela, Laguna, Palawan, Pangasinan, Romblon and Sorsogon.

PDIC said the properties offer options for individual buyers, developers, agribusiness investors and commercial enterprises.

The public bidding is open to all qualified buyers who register through PDIC’s e-bidding portal, the agency said.

Buyers can access the complete property catalogue, detailed property information, bidding guidelines and documentary requirements through the same portal, PDIC said. Participants bidding on behalf of another individual or an organization may download the prescribed Special Power of Attorney and Secretary’s Certificate forms from the portal.

Properties are sold on an as-is-where-is basis, and PDIC encouraged bidders to conduct due diligence covering property condition, status and ownership before submitting bids.

The agency also asked participants to review the conditions of bid posted on the portal to ensure compliance with established procedures.

The article was originally published in Manila Standard.

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