MANILA—The Philippine Deposit Insurance Corporation (PDIC) will offer 87 residential and agricultural properties in Mindanao through an electronic public bidding scheduled for November 18 to 19.

Bidding will open at 9 a.m. on November 18 and close at 1 p.m. on November 19, with the opening of bids set for 2 p.m. on the same day through the PDIC Assets for Sale website.

Leading the portfolio are 71 residential lots with improvements in Kanale Subdivision, Barangay Poblacion, Lupon, Davao Oriental, with minimum bid prices ranging from ₱199,070 to ₱375,390.

The PDIC said the properties offer affordable real estate opportunities for prospective homeowners and investors in the coastal municipality, which is east of Davao City and connected to commercial centers such as Mati and Tagum City through regional highways.

The remaining 16 properties comprise six vacant agricultural lots, five vacant residential lots, three residential properties with improvements, and two agricultural properties with improvements. These are located in Agusan del Norte, Bukidnon, Davao Oriental, South Cotabato, Sultan Kudarat, and Surigao del Norte.

The bidding is open to all qualified buyers who register through the PDIC’s e-bidding portal at https://assetsforsale.pdic.gov.ph. Interested participants may also access the property catalogue, detailed listings, bidding guidelines, and documentary requirements through the website.

Buyers are encouraged to complete the portal’s one-time registration to participate in the upcoming auction and future asset disposal activities. Those bidding on behalf of another individual or an organization may download the required 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 bidders to conduct due diligence on each property’s condition, status, and ownership and to review the posted Conditions of Bid to ensure compliance with the bidding procedures.

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

The certification must establish that the property is not covered by the Comprehensive Agrarian Reform Program and has not been issued an Emancipation Patent or Certificate of Land Ownership Award. The affidavit, meanwhile, must confirm that the bidder’s total landholdings, including the acquired property, do not exceed the legal limit of five hectares.

Templates for both documents are available through the Download Center of the PDIC Assets for Sale website.

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 go to a fund managed by the corporation for settling creditors’ claims, while revenue from corporate asset sales is added to the Deposit Insurance Fund, which finances valid deposit insurance claims.

For inquiries, 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 to pad@pdic.gov.ph or through private messages to the PDIC Assets for Sale Facebook page (@PDICAssetsforSale) or its official Facebook page (@OfficialPDIC).