Makati city economic situation5/27/2023 The other top cities in terms of assets are Pasig (P45.6 billion), Cebu City (P34.7 billion), Mandaue City (P32.1 billion), Taguig City (P29 billion), Caloocan (P20.5 billion), and Pasay (P19.7 billion).ĭavao City was the lone local government unit in Mindanao to have made it to the list. With P19.784 billion in total assets last year, Davao City landed on the 10th spot among the richest cities in the country in 2019 based on COA’s Annual Financial Report (AFR) for Local Government.įollowing Makati and Quezon City is the country’s capital city of Manila with assets totaling P64.8 billion. Quezon City, under Mayor Josefina Joy Belmonte is the country’s richest city and local government unit in terms of annual revenues but, is the second wealthiest city in terms of assets with P96.4 billion. QUEZON CITY MAYOR Joy Belmonte with author Mel Velasco and journalist Fred Gabot at a public forum In terms of annual revenues, Makati City with P18 billion budget, however, actually is second to Quezon City only which has annual budget of P27.8 billion. MAKATI CITY – In terms of assets and net worth, Makati is still the richest city of the Philippines.Ī Commission on Audit (COA) report showed Makati City, under helm of Mayor Abigail Binay, has assets totalling P233.7 billion.
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