In a landmark milestone for public institutional reform in the Dominican Republic, the National Institute for the Custody and Administration of Seized, Confiscated and Extinction of Ownership Assets (better known by its acronym Incabide) has successfully concluded its inaugural public auction, raising 562.8 million Dominican pesos through the sale of assets seized and confiscated under the nation’s Asset Forfeiture Law 60-23.
The auction offered 143 disparate assets to prospective bidders, split between 52 real estate holdings and 48 movable items ranging from vehicles to equipment. Of the total inventory, 100 assets found buyers, marking a 68% overall sales success rate. The vast majority of revenue came from real estate transactions, which generated 550.17 million Dominican pesos, while movable assets contributed an additional 12.67 million Dominican pesos. Four properties received no acceptable bids and were declared unsold, and a further 43 unclaimed assets will be held for future auction rounds planned by the institute.
Incabide officials noted that the event drew robust engagement from a diverse pool of participants, including both private individual bidders and domestic corporate entities. From the opening listing process to the final bid confirmation and transfer of ownership, the entire auction operation was carried out under strict standards of transparency, full legal compliance, and ongoing independent institutional oversight, the institute confirmed.
This successful first auction, Incabide leadership emphasized, is more than a one-off financial event: it serves as concrete proof of the institution’s commitment to delivering efficient, accountable management of assets seized through the nation’s forfeiture legal framework. The proceeds from the sale will ultimately support public institutional strengthening across the Dominican Republic, advancing efforts to streamline state asset management and reinforce governance standards.