MANILA — The Philippine Deposit Insurance Corporation will conduct an electronic public bidding for various corporate and closed-bank assets on April 22 to 23, offering prospective investors access to a range of properties across the country.

According to the state-run agency, interested buyers may submit bids through the PDIC e-bidding portal starting at 9:00 a.m. on April 22 until 1:00 p.m. on April 23. All submitted bids will be formally opened at 2:00 p.m. on the same day.

The properties will be sold on an “as-is, where-is” basis and include commercial, industrial, residential, and agricultural assets located in several provinces nationwide. Among the highlighted offerings are a vacant commercial lot in Kidapawan City, North Cotabato; a commercial property with improvements in Kalibo, Aklan; and an industrial lot with improvements in General Santos City, South Cotabato.

The portfolio also includes 25 agricultural lots, 19 residential lots, and three mixed residential-agricultural properties with sizes ranging from 100 square meters to 10.5 hectares. These assets are located in Aklan, Antique, Bohol, Capiz, Guimaras, Iloilo, Cebu, Negros Oriental, Southern Leyte, North Cotabato, South Cotabato, Agusan del Norte, Agusan del Sur, Surigao City, and Surigao del Sur.

Prospective bidders are required to complete a one-time registration through the PDIC e-bidding portal to participate. The agency also advised buyers to conduct due diligence on the properties and review the bidding conditions before submitting offers.

Under existing procedures, winning bidders for agricultural lots must submit certification from the Provincial Agrarian Reform Officer confirming that the property is not covered by the Comprehensive Agrarian Reform Program and that the buyer’s total landholdings do not exceed the five-hectare legal limit.

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