The Philippine Deposit Insurance Corporation is set to bid-out 32 residential lots with improvements, 24 residential lots, two commercial lots with improvements, and a mixed residential/commercial lot with improvements through e-bidding starting July 26 until 27.

The properties have a combined disposal price of Php 137.5 million with individual prices ranging from Php 180,000 to Php 21 million and plot sizes ranging from 105 to 4,200 square meters.

The state deposit insurer’s e-bidding portal, will accommodate qualified bidders and interested parties from 9:00 am on July 26, until 1:00 pm on July 27, and to be opened at 2:00 pm on July 27.

In a news release dated June 27, PDIC said that details of the properties will be posted on the portal. However, it reminded possible participants that they must shoulder the responsibility of looking out for the conditions of the properties and for possible issues.

The closed bank-owned properties, meanwhile, can be located in various cities and municipalities across the country.

The PDIC added that  interested buyers would need to fill-up a one-time sign-up process through its website, and then may start filing their bids by observing the e-bidding procedures posted on PDIC’s homepage.

Representative bidders, on the other hand, would need to file a Pro-forma Special Power of Attorney and Secretary’s Certificate to be obtained through the aforementioned bidding portal.

The PDIC is encouraging interested buyers and bidders to contact their Public Assistance Department at (02) 8841-4141 during office hours. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-PDIC or 1-800-1-888-7342, also during office hours. Inquiries may also be sent via e-mail at or private message on PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC’s official Facebook page (@OfficialPDIC).

As the statutory receiver, the PDIC sells closed bank-owned assets through public bidding

and negotiated sales. The proceeds are added to the pool of liquid assets of these closed banks for distribution to uninsured depositors and other creditors based on legal priority. The PDIC said the disposal of these assets “increases the chances of recovery of uninsured depositors and creditors of their trapped funds in the closed banks” – Hurt Allauigan