CALAMBA CITY, Laguna (PIA) — Agricultural properties from corporate and closed banks in the Calabarzon region, with assets ranging from P465,000 to P4.6 million, are set for public e-bidding by the Philippine Deposit Insurance Corporation (PDIC).
According to Romeo Ofrin, PDIC’s corporate executive officer, there are 54 agricultural properties open for bidding nationwide this February 2024, 22 of which are located in the Calabarzon region.
Ofrin said that prices vary depending on the location of the property and the base price set by interested bidders.
In Calabarzon, there are three available properties in Batangas up for bidding, three in Cavite, 10 in Laguna, and six in Quezon.
Ofrin added that apart from the Calabarzon region, agricultural land properties are also available in Aklan, Antique, Bohol, Camarines Sur, Isabela, La Union, Marinduque, Misamis Oriental, Negros Occidental, Pangasinan, and South Cotabato, open for public e-bidding.
According to PDIC, bidders can easily join through the e-bidding portal created to streamline the acquisition of properties, modernizing and enhancing government processes for the benefit and convenience of the public.
“What’s great about this is, since it’s an e-bidding procedure, those interested in acquiring properties don’t need to physically go to Makati. People from Laguna, Cavite, Batangas, Quezon, and even OFWs can participate and purchase properties through PDIC e-biddings,” said Jeanette Delgado, Corporate Executive Officer of the Asset Management and Disposal Department during the Philippine Information Agency’s Sulong Calabarzon program.
Delgado said bidders must submit a certification from the Provincial Agrarian Reform Officer (PARO) of the Department of Agrarian Reform (DAR) where the property they desire to acquire is located to ensure that the agricultural lot is not covered by the Comprehensive Agrarian Reform Program (CARP), and that no Emancipation Patent or Certificate of Land Ownership Awards has been issued for the said property.
She added that the funds generated from these properties will primarily augment the PDIC and closed banks’ financial portfolios to settle the insurance claims of depositors and closed bank creditors.
The agricultural lands acquired by successful bidders can be repurposed and converted into other types of properties, with the responsibility for the process shouldered by the new owner.
Delgado explained: “It’s possible. However, the process will be handled by the new owner. For instance, if the property acquired is formerly an agricultural land, and they want to convert it into a subdivision making it a residential area, then they will be responsible for the whole process.”
Interested bidders are encouraged to join the upcoming bidding on February 28 to 29 through its public e-bidding portal, accessible at https://assetsforsale.pdic.gov.ph, starting from 9:00 am on February 28, 2024, until 1:00 pm on February 29, 2024.
The PDIC is planning to hold a face-to-face public bidding of assets on March 21, 2024, in Makati City to further assist closed banks in liquidating their assets. (CO/PIA-4A; with reports from PDIC)
Sulong Calabarzon is a weekly public affairs program hosted by the Philippine Information Agency Calabarzon, streaming live every Thursday, 2:00 PM via the Philippine Information Agency Calabarzon Facebook page.
