MANILA — The Philippine Deposit Insurance Corporation (PDIC) will hold an electronic public bidding (e-bidding) on May 20 to 21, 2026 for agricultural and residential properties located in Visayas and Mindanao.

The submission of bids will begin at 9 a.m. on May 20 and will close at 1 p.m. on May 21, with the bid opening scheduled at 2 p.m. on the same day.

The PDIC said the properties, which came from closed banks, will be sold exclusively through its online portal at https://assetsforsale.pdic.gov.ph, allowing interested buyers to participate remotely.

Through the platform, the agency said the bidding process is designed to be fully digital, transparent, and accessible to prospective buyers.

Among the properties offered are 10 lots located in Cebu City, Naga City, and San Fernando in Cebu province, which the PDIC described as key investment areas due to their economic activity and infrastructure growth.

Additional properties are also available in Agusan del Norte, Bohol, Iloilo, South Cotabato, and Southern Leyte, expanding the auction coverage across major provincial areas in Visayas and Mindanao.

Interested participants must register through the PDIC e-bidding portal to access the full catalogue, bidding guidelines, and requirements.

All properties will be sold on an “as-is, where-is” basis, and the PDIC advised bidders to conduct due diligence on property conditions, ownership status, and other legal considerations before submitting bids.

For agricultural lands, winning bidders are required to submit certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform, confirming that the property is not covered by the Comprehensive Agrarian Reform Program (CARP). They must also submit an Affidavit of Aggregate Landholdings within 15 days after the auction.

The PDIC said participation through representatives will also be allowed, provided that required documents such as a Special Power of Attorney or Secretary’s Certificate are submitted.

As receiver of closed banks, the PDIC said proceeds from the sale of these assets go toward a fund used to settle claims of creditors, including depositors with uninsured deposits.