PDIC To Auction ₱115-M Assets Of Closed Banks

The Philippine Deposit Insurance Corp. (PDIC) will put up for sale P115-million worth of agricultural and residential lots owned by padlocked banks.

Photo Insert: The PDIC will conduct on Aug. 23 a public electronic bidding of a total of 63 residential and agricultural lots across the country.

The PDIC will conduct on Aug. 23 a public electronic bidding of a total of 63 residential and agricultural lots across the country.

These include 56 agricultural lots, six of which have improvements, and seven mixed residential and agricultural lots, two of which have improvements. Lot sizes of the properties are between 160 square meters and 95,255 sqm.

Rates for the properties start at a minimum disposal price of P31,171 to as much as P11 million.

The PDIC said the lots are located in Antique, Bataan, Batangas, Benguet, Cagayan, Camarines Sur, Cavite, Isabela, Lanao del Norte, Leyte, Negros Oriental, North Cotabato, Pangasinan, and Quezon.

The properties are owned by closed banks under liquidation by PDIC.

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