Auction in progress: INCABIDE projects more than RD$1,000 million in assets to be sold before the end of the year

Santo Domingo.- President Luis Abinader announced this week that “the auction is approaching” of assets seized by the Dominican State. The first one, according to what he indicated, could be held between the end of July and the beginning of August, and would be in charge of the National Institute for Custody and Administration of Seized and Confiscated Assets (INCABIDE).

With that phrase, the president once again brought to the table an issue that Bajo el Foco has been following in several reports: When, how, and how many of those assets will finally go up for auction?

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The director of INCABIDE, Manuel Oviedo Estrada, confirmed that two auctions are planned before the end of 2025, with a projection of more than RD$1,000 million pesos in assets. Among the included assets are approximately 90 properties with available titles, more than 100 pieces of jewelry, and more than 100 vehicles, although many of the latter are classified as scrap. However, Oviedo clarified that the handover ceremony carried out by the Attorney General’s Office in November 2024 was mainly symbolic. Although the delivery of more than 300 assets with a final judgment and an estimated value of RD$3.3 billion was announced on that occasion, the transfer process is still ongoing to date. In the case of real estate, INCABIDE has formally received only 22% of the total. This situation, as explained by the official, directly influences the current use of many of those assets. Some remain in the custody of the Public Ministry, others are in the process of being transferred, and a portion has been legally rented to cover operating and maintenance expenses. There are also properties in use by public institutions. Among the high-profile properties in the inventory are gas stations, apartments in exclusive sectors such as Piantini and La Esperilla, a villa in Casa de Campo, and a commercial cinema on the malecón, the latter currently under evaluation by the Ministry of Culture for possible institutional use. With this context, the announced public auction seeks to sell off a portion of these assets, in compliance with the Law of Extinction of Domain and under the legal provisions governing its administration. However, the process of receiving, classifying, and legal availability of each asset continues to be a key stage before its commercialization. The State currently manages a portfolio of high economic value, but also one with a strong symbolic charge.