Quezon City remained the richest city in the country, according to a report by the Commission on Audit (COA) released on Monday, Oct. 17.
Based on COA’s 2021 Annual Financial Report on Local Government Units (LGUs), Quezon City was tagged as the richest with a total asset of Php 451.007 billion. But QC’s 2021 record is Php 1 billion lower than its 2020 record of Php 452.333 billion.
Nevertheless, this is QC's second-straight year of being the richest city in terms of pure assets and net assets or equity.
Makati City followed as the second richest with Php 238 billion. It was the richest city from 2017 to 2019, until Quezon City took its spot back in 2020.
Below is the complete list of the top ten wealthiest cities with the biggest amount of assets:
Meanwhile, the richest province for 2021 is still Cebu. It has maintained its top spot for eight straight years.
Cebu province has a total asset of Php 215,270, it grew Php 2 billion from Php 213,005 in 2020.
This was followed by Rizal province with a total asset of Php 30,637, which increased by Php 7 billion from Php 23,053 in 2020.
Below is the complete list of the top ten wealthiest provinces with the biggest amount of assets:
