MANILA — The Philippine Deposit Insurance Corporation (PDIC) will conduct an electronic public bidding for two commercial lots and dozens of other properties in Luzon from July 8 to 9 through its Assets for Sale microsite.

Bid submissions will be accepted starting 9 a.m. on July 8 until 1 p.m. on July 9, while the opening of bids is scheduled at 2 p.m. on the same day.

Among the properties up for sale are two commercial lots located along major roads in Naujan, Oriental Mindoro and San Jose del Monte City, Bulacan. The properties, which were previously used as bank premises, are situated in areas identified as growth centers and may be suitable for business expansion and other commercial activities.

The commercial lots have minimum disposal prices of P3 million and P6.9 million, respectively.

Also included in the e-bidding are 35 residential lots, 18 agricultural lots, and five mixed residential-agricultural properties across Luzon. The properties range in size from 42 square meters to 4.5 hectares and are located in Metro Manila, Albay, Batangas, Bulacan, Camarines Sur, Isabela, Laguna, La Union, Oriental Mindoro, Pangasinan, Quezon, Rizal, and Zambales.

Interested buyers may access the property listings, bidding guidelines, requirements, and bid submission facilities through the PDIC’s online bidding portal. Participation requires a one-time registration, which also grants access to future PDIC asset auctions.

The PDIC said all properties will be sold on an “as-is, where-is” basis and advised prospective buyers to conduct due diligence, including checking the condition and ownership status of properties before submitting bids.

Winning bidders for agricultural properties are required to submit a certification from the Provincial Agrarian Reform Officer (PARO) and an Affidavit of Aggregate Landholdings within 15 days after the e-bidding. The certification must state that the property 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 lot.

The affidavit must certify that the buyer’s total landholdings, including any property acquired through the bidding, do not exceed the five-hectare ownership limit prescribed by law.

The prescribed forms for these requirements, as well as templates for a Special Power of Attorney and Secretary’s Certificate for those bidding on behalf of individuals or organizations, may be downloaded from the e-bidding portal.

As statutory receiver of closed banks, the PDIC disposes of remaining assets to maximize recoveries and help settle claims of creditors, including depositors with uninsured deposits. Proceeds from the sale of assets owned by closed banks are used to pay creditors’ claims, while revenues from the sale of corporate assets are added to the Deposit Insurance Fund.

The PDIC encouraged interested buyers to contact its Public Assistance Department or its toll-free hotline for additional information regarding the upcoming e-bidding.