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PDIC to bid P243-million Davao City properties

Written by  Tribune
Thursday, 26 July 2012 00:00

A total of 130 real properties with a combined value of P243.88 million in Davao City are set to be auctioned by the Philippine Deposit Insurance Corp. (PDIC) on “as-is, where-is” basis in a public bidding on Aug. 1, 2012.

Venue of bidding will be at the third floor of the Bangko Sentral ng Pilipinas (BSP) seminar hall in Quirino Avenue, Davao City, according to PDIC corporate affairs chief Dada Felix.

Up for bidding are 42 condominium units, 29 parking spaces and 59 residential lots.

The condominium units and parking spaces are located at Landco Corporate Center, Pryce Business Park, J.P. Laurel Avenue, Bajada, Davao City while the residential lots are located in Luzville Subdivision, Panacan, Davao City.

The list of assets and their descriptions can be accessed at the PDIC Web site,

All inquiries should be coursed through the office of the vice president, Rosario Arnaldo, Asset Management and Disposal Group at 841-4650.

PDIC will receive sealed bids only from direct buyers on Aug. 1, 2012 from 9 a.m. to 2 p.m.
No extension will be given for the submission of bids.

Bidders are also advised to come early for the registration.

Only bidders will be allowed entry to the venue.

Before submitting their bids, prospective buyers are advised to physically inspect the properties they intend to buy, assess and verify the land titles and other documents; and determine unpaid taxes, fees or expenses.

All bids must be accompanied by a bond or deposit equivalent to at least 10 percent of the submitted bid either in cash or manager’s check or cashier’s check or a combination thereof.
PDIC has posted “For Sale” signs in public and strategic areas within the localities.

In addition to property descriptions, the vicinity maps and lot plans are also available through the PDIC Web site.

Bid documents such as bid forms, conditions of bid, and acceptable formats for the special power of attorney and secretary’s certificate may be downloaded from the PDIC Web site.      Ed Velasco

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