Manila, June 9 -- The Philippine Deposit Insurance Corporation (PDIC) is set to auction off 42 foreclosed properties from closed banks through a two-day electronic bidding scheduled for July 9 to 10.

In a statement Monday, PDIC said the assets include a mix of agricultural, residential, commercial, and mixed-use lots spread across Luzon and Visayas.

The state-run deposit insurer announced that bids will be accepted online via its e-bidding portal http://assetsforsale.pdic.gov.ph/Account/Register beginning at 9 a.m. on July 9 and will close at 1 p.m. on July 10.

The opening of bids is scheduled for 2 p.m. on the final day.

"To be sold on an as-is-where-is basis are 11 vacant agricultural lots, 11 vacant residential lots, 10 residential...