Davao City retains its title as one of the wealthiest cities in terms of assets and equity for 2023, according to the latest financial report from the Commission on Audit (COA) on Local Government Units.
COA’s financial report states that Davao City placed 9th in terms of assets and equity. Davao’s assets rose from P32.9 Billion in 2023, compared to P29.7 Billion in 2022, and P26.6 Billion in 2021. The same thing with its net assets or equity that rose from P24.9 Billion compared to P21.2 Billion in 2022, and 17.7 Billion in 2021.
Quezon City ranked first with P448.5 Billion in assets and P412.8 Billion in net assets. With P243.444 Billion in assets and P226 Billion in net assets, Makati came in second.
Third, fourth, and fifth place were Manila, Pasig, and Taguig. The relative values of their assets were estimated to be P53.720 Billion, P51.594 Billion, and P85.919 Billion, respectively.
Also in the top 10 are Parañaque, Mandaue, Mandaluyong, and Cebu. CIO
