Makati listed as richest city with P230 billion in assets
Makati remains the country’s richest city with P230.83 billion in total assets in 2018, higher by P34.26 billion from its 2017 wealth of P196.57, according to the Commission on Audit (COA).
In its 2018 Annual Financial Report for Local Government, COA said Quezon City maintained its second place position with P87.28 billion in total assets, while Manila is in third place with P40.71 billion assets.
Among provinces, Cebu remains the richest with P34.14 billion in total assets in 2018, which is P100 million over the 2017 record of P34.13 billion.
Behind it at second place is mineral-rich Compostela Valley with P19.61 billion in assets, followed by Batangas with P18.18 billion.
Cainta in Rizal province maintained the top spot in the municipality level in 2018 with P4.4 billion in total assets. It gained P300 million from its 2017 COA record.
The Municipality of Mariveles in Bataan dislodged Sual, Pangasinan, as the second richest town with P3.01 billion. Sual is now in third place with P2.8 billion assets.
COA said 2017 third placer, Limay, Bataan, was dislodged from the top 10 richest municipality.
Among the cities, only Cebu with P33.88 billion in summed up assets and President Duterte’s hometown Davao City with P16.2 billion are not from Luzon. Cebu placed fifth while Davao is No. 9.
Other cities that entered the top 10 richest were: 4. Pasig, P38.98 billion; 6. Taguig, P24.53 billion; 7. Caloocan, P18.38 billion; 8. Pasay City, P18.278; and 10. Calamba, P12.6 billion.
Making it to the top 10 richest provinces were Rizal, Bukidnon, and Negros Occidental, with P14.44 billion each; Laguna, P11.58 billion; Iloilo, P11.44 billion; Palawan, P11.277 billion, and Zambales, P11.24 billion.
Other municipalities that gained assets to be considered among the top 10 richest were Sto. Tomas, Batangas, P2.56 billion; Binangonan, Rizal, P2.2 billion; Caluya, Antique, P2.16 billion; Tanay, Rizal, 2.01 billion; Carmona, Cavite, P1.96 billion; Silang, Cavite, P1.9 billion and Calaca, Batangas, P1.87 billion.