Tuesday 19 February
Jan 29, 2018 @ 18:21

PDIC eyeing to sell P157M assets in Manila, Davao


The state insurer will be holding three public buildings this February 2018.

The Philippine Deposit Insurance Corp. (PDIC) announced that it will be holding multiple public auctions, in order to raise additional funding for the payout of depositors of fallen banks.

In a statement, the PDIC said public offerings will be staged on Feb. 15 and 19 in Metro Manila, involving properties within the capital as well as in Batangas, Bulacan, Cavite, Ilocos Sur, Laguna, Misamis Oriental, Nueva Ecija, Pampanga and Rizal.

In particular, 438 lots in Green Farm Royale Subdivision in Silang, Cavite will be up for bidding, which prospective buyers can acquire in full.

Bids will be received at the PDIC Training Room in Makati City.

The PDIC will then hold an auction in Davao City by Feb. 27 involving assets worth a total of P63.9 million. Various lots located in Agusan del Norte, Agusan del Sur, Bukidnon, Compostela Valley, Davao del Sur, Lanao del Norte, Misamis Oriental, North Cotabato, South Cotabato, Sultan Kudarat and Surigao del Norte will be available during the auction.

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