The Philippine Deposit Insurance Corporation (PDIC) is giving interested property buyers a unique opportunity to own residential and agricultural lots previously owned by closed banks through its electronic public bidding (e-bidding) scheduled on May 20-21, 2026. The submission of bids begins at 9:00 a.m. on May 20 and closes at 1:00 p.m. on May 21, with bid opening set at 2:00 p.m. the same day.
These assets, located across Visayas and Mindanao, will be offered for sale exclusively through the PDIC’s e-bidding portal at https://assetsforsale.pdic.gov.ph, making it easy and convenient for buyers to participate from anywhere. Through its secure and fully digital portal, the PDIC ensures that its e-bidding is a transparent and simplified process that connects buyers directly to valuable property opportunities.
Leading the list are 10 prime properties in Cebu City, Naga City, and San Fernando, all located in the province of Cebu. Cebu City, dubbed the “Queen City of the South” is the premier economic and tourism hub of Central Visayas. Naga City, on the other hand, is a vibrant component city known as the “Industrial City of Southern Cebu”. Finally, San Fernando is an up-and-coming suburban hub within Metro Cebu with great potential for growth. Driven by strong industries, increasing job opportunities, ongoing major infrastructure projects, coupled with affordable prices, properties in these areas offer great potential for long-term investment.
Beyond Cebu, the PDIC is also offering 25 more properties located in Agusan del Norte, Bohol, Iloilo, South Cotabato, and Southern Leyte, giving buyers more choices across key provincial locations.
Interested buyers may view the complete property catalogue, detailed descriptions, bidding procedures, and requirements, through the official PDIC e-bidding portal. Participation requires a one-time registration at https://assetsforsale.pdic.gov.ph/Account/Register, which provides access to this and future PDIC asset auctions.
All properties are offered on an “as-is, where-is” basis. The PDIC strongly encourages all prospective buyers to conduct thorough due diligence, including verification of property condition, ownership, and other relevant considerations. Participants are likewise advised to carefully review all Conditions of Bid prior to submission of bids.
Winning bidders for agricultural properties must submit a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform in the province where the property is located and an Affidavit of Aggregate Landholdings, within fifteen (15) days after the e-bidding. The PARO certification should confirm that the agricultural lot is not covered by the Comprehensive Agrarian Reform Program (CARP) 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 property/ies to be acquired during the bidding, do not exceed the five-hectare limit set by law. The prescribed formats for the Certification and Affidavit may be downloaded for free from the Download Center of the e-bidding portal at https://assetsforsale.pdic.gov.ph.
Participants bidding on behalf of another individual or an organization may also download free of charge, the pro-forma Special Power of Attorney and Secretary’s Certificate, respectively, from the e-bidding portal.
As the statutory receiver, the PDIC liquidates the remaining assets of closed banks to maximize recoveries and help settle claims of closed bank creditors, including depositors with uninsured deposits. Proceeds from the sale of closed bank-owned properties go directly to a fund that the Corporation manages for these closed banks to settle creditors’ claims.
For more information on the e-bidding, 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 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 pad@pdic.gov.ph or private message on PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC’s official Facebook page (@OfficialPDIC).
