SANTO DOMINGO – The National Institute of Custody and Administration of Seized, Confiscated and Extinct Domain Goods (Incabide) has published the call for a public auction that will take place on November 25. On the day, approximately 200 assets will be offered, with an estimated value of RD$1,000 million, seeking to convert state-held assets into economic resources.
Variety of assets on offer
The catalog includes plots of land, farms, apartments, homes, jewelry, watches, repairable vehicles, aircraft, and materials of various types. This diversity makes the operation one of the main auctions of the year. It is expected that the mix of assets will attract different types of buyers, from private investors to companies from various industries.
Results of the first auction of the year
The first auction of the year, held on May 13, had the participation of 345 people and the sale of 143 assets, of which 100 were adjudicated, generating a collection of RD$562.8 million. According to the director of Incabide, Manuel Oviedo Estrada, the second call follows the same strategy of efficiency and transparency in the administration of assets.
Registration and participation
The catalog of assets and the requirements to participate will be available from October 19. The registration process will extend until November 7 and will have a cost of RD$5,000. The auction will take place at the Institute of Higher Police Studies (IPES), with differentiated hours for the bid and a program that also includes lower-value assets to expand participation.
Objective of the auction
Incabide projects obtaining around RD$600 million from the assets adjudicated during the process. This figure stands out in front of the total collected in the first auction, and it is expected that the mix of assets and the wide participation will allow reaching the goal of converting the valued patrimony into effective income.
Expected impact
The auction aims to demonstrate the State’s ability to monetize its assets in an organized manner, which could generate additional resources for social and infrastructure programs. Additionally, it is expected that the dynamics of the bid will provide data on the demand for certain types of goods in the Dominican market.
Credits: n.com.do
