SANTO DOMINGO.- The National Institute for the Custody and Administration of Seized, Confiscated and Extinction of Ownership Assets (INCABIDE), announced yesterday, Tuesday, April 14, the holding of its first sale of assets in public auction, in which a total of 91 properties will be offered, according to official data.
According to the institute , this first call includes apartments, houses and land located in different provinces of the country, with a marked concentration in urban and tourist areas of high real estate demand.
The document indicates that the National District leads the list with 28 properties, followed by Santo Domingo East with 27, Santiago with 8, and locations such as Boca Chica and Baní with five properties each. Key destinations like Verón-Punta Cana, Bayahíbe, Cap Cana, and Guayacanes are also included, reinforcing the auction's appeal to both investors and residential buyers.
According to official data, the offer ranges from apartments in established areas such as Naco, Piantini, Bella Vista, Gazcue and La Esperilla, to houses in residential areas and land in areas with development potential in provinces such as La Vega, Peravia, Puerto Plata and La Altagracia.
The document details that some of these properties start from significant values, including apartments in the National District with initial bids exceeding 50 million pesos, as well as large plots of land in Jarabacoa with equally high base prices.
The law behind the process
The auction is conducted under Law No. 60-23, which regulates the administration, custody and final disposition of assets seized, confiscated or abandoned in criminal and asset forfeiture proceedings.
This legislation establishes a system aimed at preserving the value of assets linked to crimes such as drug trafficking, money laundering and corruption, preventing their deterioration while judicial processes are underway.
Among its key provisions, the law creates INCABIDE as an autonomous entity in charge of managing these assets, replacing the former OCABID, and introduces mechanisms to strengthen transparency in their management.
Furthermore, it contemplates the immediate delivery of the assets to this institution and regulates their final destination, whether through definitive confiscation or asset forfeiture processes.
From seized assets to public investment
The process, as reported by the institution, seeks to convert assets previously linked to illicit activities into legitimate investment opportunities for citizens.
The CEO of INCABIDE, Manuel Oviedo Estrada, stated that the initiative opens access to participants of different profiles, from entrepreneurs to families interested in acquiring properties under clear legal conditions.
Authorities assure that the properties included have complied with the established due process, guaranteeing their transfer with regularized documentation and free of encumbrances.
The resources generated will be allocated to prevention and social compensation programs, as part of the return of these assets to society.
The auction will be held in the Dr. Ricardo Michel Auditorium of the Faculty of Economic and Social Sciences at UASD, starting at 8:00 a.m. Those interested must complete the registration process beforehand to participate in the bidding.
The terms and conditions and the complete catalog of goods are available on the institution's official website.
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