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Power rankings: Makati is still the richest city, as Cainta remains as the richest municipality

By PhilSTAR L!fe Published Jan 14, 2021 3:34 am

Makati remains the country’s richest city for the third time in a row according to the latest report by the Commission on Audit (COA).

Makati had total assets of P233.78 billion last year, which was miles ahead of second ranked Quezon City’s P96 billion based on the COA’s Annual Financial Report for the Local Government.

Makati’s total assets also grew by almost P3 billion from last year’s P230.83 billion.

Following Quezon City at third place is Manila with P64.8 billion, Pasig with P45.6 billion, and Cebu City with P34.7 billion. All told, the combined wealth of Quezon City, Manila, and Pasig would not even come close to Makati’s. No other local government unit in the country breached P100 billion in total assets.

On a per province basis, the entire Cebu topped the list as it recorded P203.9 billion in total assets last year.

Cainta, Rizal remains the richest municipality with P4.93 billion.

In a tweet, Makati Mayor Abigail Binay gave credit to her constituents.

“Makatizens and all stakeholders of the City deserve all the credit! We cannot achieve this honor without your trust and confidence. Double digit % increase in tax collection during same period!” said Binay.