Incabide raises RD$562.8 million in Dominican Republic’s first asset forfeiture auction

Santo Domingo.- The National Institute for the Custody and Administration of Seized, Confiscated and Extinction of Ownership Assets (Incabide) successfully completed its first public auction, generating RD$562.8 million from the sale of seized and confiscated assets under the provisions of Law 60-23 on Asset Forfeiture.

A total of 100 of the 143 assets offered were sold, representing a 68% sales rate. The auction included 52 real estate properties and 48 movable assets. Real estate sales accounted for RD$550.17 million, while movable goods brought in RD$12.67 million.

Incabide reported strong participation from both individuals and companies and emphasized that the process was conducted with transparency, legality, and institutional oversight. Four properties were declared unsold, while 43 others remain available for future auction phases.

The institution said the successful auction reinforces its commitment to the efficient and transparent management of seized and forfeited assets, contributing to the strengthening of public institutions in the Dominican Republic.