The Philippine Deposit Insurance Corporation (PDIC) will conduct an electronic public bidding (e-bidding) for 76 properties on May 28 and 29, 2025. These assets—consisting of corporate-owned and closed bank properties—will be sold on an as-is, where-is basis through the PDIC’s e-bidding portal at https://assetsforsale.pdic.gov.ph.
Bidding Schedule and Process
Electronic bids will be accepted starting at 9:00 AM on May 28, 2025, until 1:00 PM on May 29, 2025. All bids will be opened on May 29, 2025, at 2:00 PM through the same portal.
To participate, interested buyers must complete a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register. Once registered, participants can place bids and monitor the bidding proceedings by clicking the “Assets for Sale” icon on the PDIC website at www.pdic.gov.ph.
Property Portfolio
The properties on offer include:
-
25 vacant agricultural lots
-
24 vacant residential lots
-
13 residential lots with improvements
-
6 mixed-use residential/agricultural lots with improvements
-
4 agricultural lots with improvements
-
2 vacant mixed-use residential/agricultural lots
-
2 commercial lots with improvements
Lot sizes range from 90 to 50,000 square meters. These properties are located across various provinces including Aklan, Albay, Bataan, Batangas, Bohol, Camarines Norte, Camarines Sur, Cavite, Cebu, Iloilo, Isabela, La Union, Laguna, Palawan, Misamis Oriental, Nueva Ecija, Quezon, Rizal, Tarlac, and Zamboanga del Sur.
Due Diligence and Documentation Requirements
Prospective bidders are strongly advised to conduct due diligence by carefully reviewing property details, legal conditions, and the full bidding process, all of which are outlined in the e-bidding portal’s property catalog.
Buyers of agricultural lots must submit:
-
A Certification from the Provincial Agrarian Reform Officer (PARO) confirming the property is not covered by the Comprehensive Agrarian Reform Program (CARP) and is not subject to an Emancipation Patent or Certificate of Land Ownership Award.
-
An Affidavit of Aggregate Landholdings declaring that the bidder’s total landholdings, including those up for bid, do not exceed the five-hectare legal limit.
Both documents must be submitted within 15 days after the bidding. Prescribed formats are available in the Download Center of the PDIC e-bidding portal.
Those bidding on behalf of another person or organization must also secure and submit the appropriate Special Power of Attorney or Secretary’s Certificate, also downloadable from the portal.
Purpose of the Asset Sale
As the statutory receiver of closed banks, the PDIC liquidates remaining assets to maximize recovery and settle claims of creditors, including depositors with uninsured funds. Proceeds from closed bank properties are allocated to a liquidation fund managed for that specific bank, while revenues from corporate asset sales are added to the Deposit Insurance Fund, which supports valid deposit insurance claims.
