PDIC sets auction of P40-M assets

MANILA, Philippines - State-run Philippine Deposit Insurance Corp. (PDIC) is set to dispose real estate properties and assets worth P39.6 million through a public bidding in the second week of December.

PDIC, through its Real & Other Properties Acquired (ROPA) disposal committee is bidding out on an “as-is, where-is” 46 properties owned by closed banks and 11 assets acquired by PDIC on Dec. 14.

Up for bidding are 55 residential lots, some of which have improvements, one mixed residential-agricultural lot and one agricultural lot. These properties are located in Metro Manila, Bulacan, Leyte, Nueva Ecija, Nueva Vizcaya, Pampanga, Pangasinan, Quezon, Rizal, Sorsogon and Zambales.

Prospective buyers are advised to physically inspect the properties they are interested to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges and/or expenses before submitting their bids.

Each bid should be accompanied by a bond/deposit equivalent to at least 10 percent of the submitted bid, in cash or manager’s or cashier’s check, or both.

PDIC also clarified that the value added tax corresponding to the bid price of properties shall be shouldered by and collected from the winning bidder in addition to the bid price.

Last October, PDIC sold 19 ROPA worth P20.8 million and two corporate assets with an aggregate value of P430,000. The assets sold consisted of commercial and residential properties located in Metro Manila and the provinces of Batangas, Benguet, Bulacan, Cagayan, Cavite, Cebu, Isabela, La Union, Tacloban, and Tarlac.

Last Aug. 25, PDIC raised P10 million from the sale of 18 corporate assets with aggregate value of P4.2 million and nine closed banks’ assets with combined value of P5.7 million.

In the second quarter, PDIC raised close to P63 million from the sale of various properties in Caloocan City, Parañaque City and in the provinces of Bulacan, Cebu, Rizal, Ilocos Sur, Isabela, Laguna, Pangasinan, Tarlac, Nueva Ecija, Misamis Oriental, Benguet, Zambales.