State insurer to auction off prime Cavite estate

The Philippine Deposit Insurance Corp. on Friday called for bids for a prime industrial lot in Cavite, which is being sold for a floor price of P65.25 million.

PDIC, Asiatrust Bank and Onshore Strategic Assets Inc. jointly own the property in Dasmariñas town. The state firm said in a statement that direct buyers would have to submit sealed bids from November 16 to November 22.

Referred to as DMPI Land, the property is a 21,750-square-meter industrial lot located along Km. 37 of the Aguinaldo Highway in Sitio (settlement) Bucal, Barangay (village) Sampaloc 2.

Bids should be submitted to the PDIC ROPA Management Department located on the 7th Floor of the SSS Building, 6782 Ayala Avenue, Makati City.

“The sale shall be in cash and on an ‘as-is, where-is’ basis,” the owners said, pointing out the physical condition of the property, the condition of its title, other evidence of ownership and extent of rights, interests and participation the sellers have over the property at the time of the bidding would need to be considered.

Also, the winning bidder will have to assume all unpaid taxes, fees and/or expenses, such as, but not limited to, capital gains tax or creditable withholding tax, documentary stamp tax, registration and transfer fees, and all other expenses and charges related to the sale and transfer of the title.

The owners added that each bid should be accompanied by a bond or deposit equivalent to at least 10 percent of the submitted bid in the form of a manager’s check payable to PDIC.