The Philippine Deposit Insurance Corporation (PDIC) will hold an electronic public bidding for a prime commercial lot and other real properties in Luzon from March 25 to 26, 2026, on an “as-is, where-is” basis.
Interested buyers may submit bids through the PDIC e-bidding portal at https://assetsforsale.pdic.gov.ph starting 9 a.m. on March 25 until 1 p.m. on March 26. Submitted bids will be opened at 2 p.m. on March 26.
The prime commercial lot is located in Barangay Villasis, Santiago City, Isabela, a regional commerce and development hub in the Cagayan Valley.
The portfolio of Luzon properties also includes 29 agricultural lots, 23 residential lots and 10 mixed residential/agricultural lots ranging from 129 square meters to 4.6 hectares.
A complete list of properties with detailed descriptions, bidding requirements, procedures, and conditions is available on the PDIC e-bidding portal.
Prospective buyers must complete a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register to participate in this and all future PDIC e-bidding events.
The PDIC strongly encourages bidders to conduct due diligence on properties of interest to verify their actual condition, status, ownership, and other circumstances.
Interested parties are also reminded to carefully read the Conditions of Bid posted on the portal.
For agricultural properties, winning bidders must submit within 15 days after the e-bidding a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform in the province where the property is located, along with an Affidavit of Aggregate Landholdings.
The PARO certification should confirm that the agricultural lot is not covered by the Comprehensive Agrarian Reform Program and that no Emancipation Patent or Certificate of Land Ownership Award has been issued for the property.
The affidavit should state that the winning buyer’s collective landholdings, including the properties to be acquired during the bidding, do not exceed the five-hectare limit set by law.
Prescribed formats for the certification and affidavit may be downloaded for free from the Download Center of the e-bidding portal.
Participants bidding on behalf of another individual or an organization may also download the pro forma Special Power of Attorney and Secretary’s Certificate, respectively, for free from the portal.
As statutory receiver, the PDIC liquidates the remaining assets of closed banks to maximize recovery and help pay claims of closed bank creditors, including depositors with uninsured deposits.
Proceeds from the sale of closed bank-owned properties go directly to a fund managed by the corporation to settle creditors’ claims.
Revenues from the sale of corporate assets are added to the Deposit Insurance Fund, the funding source for valid deposit insurance claims.
The PDIC was established on June 22, 1963, under Republic Act 3591 to protect depositors and help maintain stability in the financial system.
It is an attached agency of the Bangko Sentral ng Pilipinas.
For more information, interested buyers within Metro Manila may contact the PDIC Public Assistance Department at (02) 8841-4141 during office hours. Those outside Metro Manila may call the toll-free hotline at 1-800-1-888-PDIC (1-800-1888-7342). Inquiries may also be sent via email at pad@pdic.gov.ph or through PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale).
