State insurer sells assets for P72.07 million at Housing Fair

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State insurer Philippine Deposit Insurance Corp. (PDIC) announced that it has sold P72.07 million from four properties during the recently concluded 8th Housing Fair.

The Housing Fair, which was organized by the Housing and Urban Development Coordinating Council (HUDCC), was held at the SM Megamall, Mandaluyong City, on October 25 to 27.

In a statement, PDIC said that the assets included three residential properties located in the cities of Antipolo, Bacolod and Tacloban; and a commercial property measuring 2,011 square meters situated along Taft Avenue in Pasay City.

“Three of the sold properties were owned by closed banks under PDIC liquidation. The Pasay City property is a PDIC-owned asset,” the agency said.


PDIC added that its Real and Other Properties Acquired (ROPA) Disposal Committee approved the offers to buy on October 29 on installment basis up to seven years, at 6-percent interest rate.

The insurer noted that it offered up to 20-percent discount from the minimum disposal price for offers to buy in cash, and 10-percent discount for installment purchases. It also reported that a total of 67 potential buyers registered during the three-day Housing Fair.

“The PDIC offers for sale properties through public biddings, negotiated sale, and housing fairs. Interested buyers are invited to access and use the PDIC’s Property Finder located on the PDIC website, www.pdic.gov.ph to access information on the various properties and assets being offered for negotiated sale,” the state insurer stated.

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