Philippine Deposit Insurance Corp. will bid out on August 11 over 80 condominium units, most with parking slots, in prime locations within Metro Manila with a combined minimum disposal price of P1.7 billion.
PDIC will hold the auction at the PDIC Training Room, 9th Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino St., Makati City. Sealed bids will be accepted by the PDIC Real and Other Properties Acquired Committee from direct buyers only between 9:00 a.m. and 2:00 p.m.
PDIC said interested buyers may choose among various units, including parking slots at Exportbank Plaza in Makati City, One McKinley Place in Taguig City and Victoria Plaza in San Juan City.
Also up for bidding are 10 separate parking slots at One McKinley Place. The bidding will be on an “as-is, where-is” basis. Properties for bidding are under the name of the closed Export and Industry Bank and are listed in PDIC’s website, www.pdic.gov.ph, for easy reference.
PDIC advised prospective buyers to physically inspect the properties they are interested to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges or expenses before submitting their bids.
Bids will be opened starting 2:00 p.m. Each bid must be accompanied by a bond or deposit equivalent to at least 10 percent of the submitted offer, in cash or manager’s check.
PDIC said the manager’s check should be issued by a reputable universal or commercial bank and payable to PDIC FAO Export and Industry Bank. The winning bidder should pay the balance of the bid no later than August 22, 2017.
The ROPA Disposal Committee will automatically cancel the award once the issued checks are not cleared.