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PDIC eyes over P100M from Mindanao asset sale

Up for bidding are thousands of memorial lots in Cagayan de Oro City.

Up for bidding are thousands of memorial lots in Cagayan de Oro City.

The Philippine Deposit Insurance Corporation (PDIC) said they will hold a new public bidding on Wednesday, Sept. 26 where they are looking to raise at least P117.2 million.

What’s different about this auction is it will be held at the Bangko Sentral ng Pilipinas’ branch in Cagayan de Oro, given that bulk of the properties to be sold are located within Misamis Oriental and nearby provinces.

Up for bidding are 3,307 memorial lots at the Ma. Christina Gardens of Iligan and the Cagayan de Oro Gardens. These will be sold by block.

Other properties for disposal are residential and industrial lots seized from closed banks.

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