MANILA – The Philippine Deposit Insurance Corporation (PDIC) will conduct an electronic public bidding for a prime commercial lot and several other properties in Luzon from March 25 to 26, 2026.

In a news release dated February 24, the state deposit insurer said the properties will be offered on an “as-is, where-is” basis through its e-bidding portal.

Bids may be submitted starting 9:00 a.m. on March 25 until 1:00 p.m. on March 26 via https://assetsforsale.pdic.gov.ph. All submitted bids will be opened at 2:00 p.m. on March 26.

Among the properties up for sale is a prime commercial lot located in Barangay Villasis, Santiago City, Isabela, described as a regional commerce and development hub in Cagayan Valley.

The Luzon portfolio also covers 29 agricultural lots, 23 residential lots, and 10 mixed residential and agricultural lots. The properties range in size from 129 square meters to 4.6 hectares. A full list of properties, along with descriptions, bidding requirements, procedures, and conditions, is available on the PDIC e-bidding portal.

Interested participants must complete a one-time registration through the portal to join the scheduled bidding and future PDIC e-bidding activities.

The PDIC advised prospective buyers to conduct due diligence on the properties to verify their condition, ownership, and status. Bidders are also reminded to review the Conditions of Bid posted on the portal.

For agricultural properties, winning bidders are required to submit a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform in the province where the property is located, along with an Affidavit of Aggregate Landholdings, within 15 days after the e-bidding.

The PARO certification must confirm that the agricultural lot is not covered by the Comprehensive Agrarian Reform Program and that no Emancipation Patent or Certificate of Land Ownership Award has been issued for the property. The affidavit must state that the buyer’s total landholdings, including the acquired property, do not exceed the five-hectare legal limit. Prescribed formats for these documents may be downloaded free of charge from the portal.

Participants representing another individual or organization may also download the pro-forma Special Power of Attorney and Secretary’s Certificate from the same site.

As statutory receiver, the PDIC disposes of assets of closed banks to maximize recoveries and help settle claims of creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties are placed in a fund managed by the Corporation to pay creditors’ claims. Meanwhile, revenues from the sale of corporate assets are added to the Deposit Insurance Fund, which serves as the funding source for valid deposit insurance claims.

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 toll-free hotline at 1-800-1-888-PDIC (7342). Queries may also be sent via email at pad@pdic.gov.ph or through private message on PDIC’s Assets for Sale and official Facebook pages.