MANILA – The Philippine Deposit Insurance Corporation (PDIC) will sell corporate and closed bank assets, including prime commercial condominium units in Davao City and a portfolio of properties in Visayas and Mindanao, via electronic public bidding (e-bidding) on February 25 to 26, 2026.

The properties will be sold on an “as-is, where-is” basis. Submission of bids begins at 9:00 a.m. on February 25 and closes at 1:00 p.m. on February 26, exclusively through the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph. Bids will be opened at 2:00 p.m. on February 26.

Featured properties include four commercial condo units and four parking slots at the Landco Corporate Centre in Davao City, as well as 45 agricultural lots, 19 residential lots, and four mixed residential-agricultural lots ranging from 82 square meters to 10 hectares.

Interested parties must complete a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register to participate. PDIC encourages prospective buyers to conduct due diligence on the properties to determine their actual condition, status, and ownership, and to carefully read the Conditions of Bid posted on the e-bidding portal.

For agricultural properties, winning bidders must submit within 15 days a certification from the Provincial Agrarian Reform Officer (PARO) confirming the lot is not covered by the Comprehensive Agrarian Reform Program (CARP), along with an Affidavit of Aggregate Landholdings stating that their total landholdings do not exceed the five-hectare limit set by law. Required forms can be downloaded from the PDIC e-bidding portal. Participants bidding on behalf of another individual or organization may also download a Pro-forma Special Power of Attorney or Secretary’s Certificate from the portal.

As the statutory receiver of closed banks, PDIC liquidates remaining assets to maximize recovery and pay claims of closed bank creditors, including uninsured depositors. Proceeds from closed bank properties are used to settle creditors’ claims, while revenues from corporate assets are added to the Deposit Insurance Fund, which funds valid deposit insurance claims.

For inquiries, buyers in Metro Manila may contact the PDIC Public Assistance Department at (02) 8841-4141. Those outside Metro Manila may call the toll-free hotline at 1-800-1-888-PDIC (1-800-1-888-7342) or email pad@pdic.gov.ph. Questions may also be sent via private message on PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or official Facebook page (@OfficialPDIC).