MANILA—The Philippine Deposit Insurance Corporation (PDIC) will offer 76 residential and agricultural properties in Luzon through electronic public bidding on Oct. 21 and 22.

Bids will be accepted through the PDIC Assets for Sale e-bidding site starting at 9 a.m. on Oct. 21 until 1 p.m. on Oct. 22. The opening of bids will take place at 2 p.m. on Oct. 22.

The portfolio includes 14 residential properties in various cities and municipalities in Laguna, which the PDIC described as a strategically located province south of Metro Manila with access to major transport links such as the South Luzon Expressway and Cavite-Laguna Expressway.

Also included are 12 vacant agricultural properties and five vacant residential properties in Palawan, with minimum bid prices starting at P64,270.

The remaining properties are composed of 19 vacant residential properties, 13 residential properties with improvements, six vacant agricultural properties, five mixed residential/agricultural properties and two agricultural properties with improvements.

These properties are located in Metro Manila, Albay, Batangas, Cavite, Laguna, Palawan, Quezon, Rizal and Romblon.

The e-bidding is open to all qualified buyers who complete the required registration through the PDIC’s e-bidding portal. Interested participants can also access the property catalogue, detailed information, bidding guidelines and documentary requirements through the same site.

Those bidding on behalf of another individual or organization may download the prescribed Special Power of Attorney and Secretary’s Certificate forms from the portal.

The properties will be sold on an as-is-where-is basis. The PDIC advised prospective bidders to conduct due diligence on the properties’ condition, status and ownership before submitting their bids and to review the Conditions of Bid posted on the portal.

Successful bidders for agricultural properties must submit an Affidavit of Aggregate Landholdings and a certification from the Department of Agrarian Reform’s Provincial Agrarian Reform Officer (PARO) within 15 days of the e-bidding event.

The PARO certification must confirm that the property is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Award has been issued.

The affidavit must also establish that the bidder’s total landholdings, including the property acquired through the bidding, do not exceed the legal five-hectare limit. Templates for both documents are available through the portal’s Download Center.

As statutory receiver, the PDIC sells the remaining assets of closed banks to maximize recoveries and help settle claims of creditors, including depositors with uninsured deposits.

Proceeds from closed bank-owned properties are placed in a fund managed by the PDIC for the respective closed banks to settle creditors’ claims. Revenues from corporate assets, meanwhile, are added to the Deposit Insurance Fund, which finances valid deposit insurance claims.

Interested 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 or 1800-1-888-7342.

Inquiries may also be sent through email at pad@pdic.gov.ph or via private message to the PDIC Assets for Sale Facebook page (@PDICAssetsforSale) or the PDIC official Facebook page (@OfficialPDIC).