The Philippine Deposit Insurance Corporation (PDIC) has officially announced an upcoming electronic public bidding event for a diverse portfolio of corporate and closed bank assets. This significant sale will feature prime commercial condominium units alongside a substantial collection of real properties strategically located across the Visayas and Mindanao regions.
E-Bidding Schedule and Platform Details
The PDIC will conduct this asset disposal via its dedicated e-bidding portal on an "as-is, where-is" basis. The bidding window opens at 9:00 AM on February 25, 2026, and will remain accessible until 1:00 PM on February 26, 2026. All bid submissions must be made exclusively through the official PDIC e-bidding website. The corporation has scheduled the formal opening of submitted bids for 2:00 PM on February 26, 2026, marking the conclusion of this transparent digital auction process.
Featured Properties in the Auction Portfolio
Commercial assets form a highlight of this sale, with four premium commercial condominium units and four accompanying parking slots available at the Landco Corporate Centre in Davao City. This location represents a prime business and development hub in the southern Philippines.
The portfolio extends significantly into agricultural and residential landholdings, featuring:
- 45 agricultural lots
- 19 residential lots
- 4 mixed-use lots combining residential and agricultural purposes
These properties demonstrate remarkable size diversity, ranging from compact 82-square-meter parcels to expansive 10-hectare agricultural estates.
Registration and Due Diligence Requirements
Prospective bidders must complete a mandatory one-time registration on the PDIC e-bidding portal to participate in this and future electronic bidding events. The corporation strongly encourages all interested parties to conduct thorough due diligence investigations on properties they intend to acquire. This includes verifying actual physical conditions, legal status, ownership documentation, and any other relevant circumstances that might affect property value or usability.
Participants must carefully review the complete Conditions of Bid document available on the e-bidding portal, as these terms govern the entire auction process. For those bidding on behalf of organizations or other individuals, the portal provides free downloadable templates for Special Power of Attorney and Secretary's Certificate documents.
Special Requirements for Agricultural Property Acquisition
Successful bidders for agricultural properties face specific post-auction compliance requirements. Within fifteen days following the e-bidding conclusion, winning participants must submit two crucial documents:
- A certification from the Provincial Agrarian Reform Officer (PARO) confirming the property is not covered by the Comprehensive Agrarian Reform Program (CARP) and that no Emancipation Patent or Certificate of Land Ownership Award has been issued.
- An Affidavit of Aggregate Landholdings verifying that the buyer's total land acquisitions, including properties won in this bidding, do not exceed the legal five-hectare limit for agricultural holdings.
The PDIC provides free downloadable templates for both documents through its e-bidding portal's Download Center, streamlining the compliance process for successful bidders.
Purpose and Impact of Asset Liquidation
As the statutory receiver for closed banking institutions, the PDIC undertakes these asset liquidation initiatives with clear financial objectives. The corporation aims to maximize recovery values from remaining bank assets to facilitate payments to creditors of closed banks, including depositors whose accounts exceeded insured limits.
Revenue distribution follows a structured approach: proceeds from closed bank property sales flow directly into a specially managed fund dedicated to settling creditor claims. Meanwhile, income generated from corporate asset sales contributes to the Deposit Insurance Fund, which serves as the financial reservoir for covering valid deposit insurance claims throughout the Philippine banking system.
This transparent e-bidding process represents the PDIC's commitment to efficient asset management while supporting financial system stability through responsible liquidation practices.
