By The Financial District
Oct 16, 20232 min
The Philippine National Bank (PNB) is set to generate more than P10 billion through the sale of nearly 100 properties located in Luzon, Visayas, and Mindanao next month.
The bank, led by Lucio Tan, will auction 83 residential, commercial, and agricultural properties in Luzon with a combined value of P9.73 billion. I Photo: PNB - Philippine National Bank Facebook
The bank, led by Lucio Tan, will auction 83 residential, commercial, and agricultural properties in Luzon with a combined value of P9.73 billion.
Out of this total, 17 residential and commercial properties, valued at P5.54 billion, are situated in the National Capital Region (NCR). These properties are located in Las Piñas, Parañaque, Makati, Valenzuela, Taguig, Quezon City, San Juan, and Marikina.
The bank will also rebid a commercial area on a 35,435-square-meter lot along Alabang Zapote Road in Las Piñas, estimated to be worth P2.53 billion.
Additionally, a 60,158-square-meter commercial building along FJ Aguilar Ave., also in Las Piñas, is valued at P1.51 billion. A residential and commercial property in Marina Baytown West in Asia World City in Parañaque City is worth P1.18 billion.
PNB is offering a 510,479-square-meter residential lot in Tagaytay City, appraised at P1.68 billion, as well as a substantial residential property covering 1.94 million square meters in Calatagan, Batangas, with a price tag of P1.19 billion.
Furthermore, the bank is auctioning four properties in the Visayas with a combined value of P150.3 million, along with five assets in Mindanao, which are estimated to be worth P918.5 million.
In an invitation for a public sealed bidding, the bank specified that interested parties must submit sealed bids, along with a 10 percent deposit in the form of a manager's or cashier's check, to the Acquired Assets Management Group at the PNB Financial Center in Pasay City until 9 a.m. on November 8.
The bidding is open solely to direct buyers and excludes brokers, agents, or referrers.