MANILA — The Philippine Deposit Insurance Corporation (PDIC) will offer a commercial lot in Pangasinan along with other properties in Luzon through an electronic public bidding scheduled on May 27 to 28.

According to the state deposit insurer, bid submissions will open at 9 a.m. on May 27 and close at 1 p.m. the following day, with the opening of bids set at 2 p.m. on May 28.

The assets will be made available exclusively through the agency’s e-bidding portal, allowing interested buyers to participate remotely through a digital platform designed to streamline and secure the process.

Among the properties up for sale is a 396-square-meter commercial lot in Barangay Poblacion, Burgos, Pangasinan, previously used as a bank site. The property, located along a national road, has a minimum bid price of P4.8 million.

Also included in the auction are 22 residential lots, 21 agricultural lots, and five mixed-use residential and agricultural properties across several Luzon provinces, including Metro Manila, Batangas, Bulacan, Cavite, Laguna, and Pangasinan. The sizes of these properties range from 203 square meters to 23 hectares.

Aside from real estate, the e-bidding will also feature a 2013 Toyota Fortuner with a minimum bid price of P222,000.

PDIC said all assets will be sold on an “as-is, where-is” basis and advised prospective buyers to conduct due diligence, including verifying property conditions and ownership documents, before submitting bids.

The agency added that buyers of agricultural properties are required to submit certification from the Department of Agrarian Reform confirming that the land is not covered by the Comprehensive Agrarian Reform Program, along with an affidavit stating that their total landholdings do not exceed the legal five-hectare limit, within 15 days after the bidding.

As the statutory receiver of closed banks, PDIC disposes of remaining assets to recover funds and settle claims of creditors, including depositors with uninsured accounts. Proceeds from the sale of these assets are used to pay claims and support the Deposit Insurance Fund.