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May 27, 2024

156 Davao residential lots up for sale via public e-bidding

State-run Philippine Deposit Insurance Corp. (PDIC) is set to sell 156 residential lots with improvements located in Kanale Subdivision Poblacion, Lupon, Davao Oriental through electronic public bidding on June 30.

The lots will be sold individually, on an “as-is, where-is” basis, with an

aggregate minimum disposal price of P13.7 million.

Property sizes of the residential lots range from 137 to 222 square meters with minimum disposal prices between P69,000 and P173,000.

Interested buyers may send their bids online through PDIC’s e-bidding portal at

https://assetsforsale.pdic.gov.ph starting at 9 am on June 29, until 8 am on June 30, 2022. Bids will be opened at 9 am on June 30.

A one-time registration is required from interested buyers, which may be

completed via the e-bidding portal at http://assetsforsale.pdic.gov.ph/Account/Register.

Bidders may observe the e-bidding proceedings on the same portal that can be accessed by clicking the “Assets for Sale” icon on the PDIC website’s homepage at www.pdic.gov.ph.

The complete list and description of the properties, requirements, e-bidding

process, and Conditions of Bid are posted on the same portal.

Bidders are reminded of their responsibility to determine the actual condition, status, ownership, and other circumstances of the properties they wish to acquire.

As the mandated liquidator, the PDIC sells closed bank-owned assets through

public biddings and negotiated sales.

Proceeds from the liquidation of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors subject to the rules on concurrence and preference of credits.

The disposal of foreclosed assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds in the closed banks.