Makati City has taken the top spot on the list of the ten richest cities in the Philippines in 2017 released by the Commission of Audit.
Assets of Makati City ballooned to P196.57 billion last year compared to Php54.85 billion in 2016.
It dethroned Quezon City which was the richest city in the country in 2015 and 2016. In 2017, Quezon City’s assets amounted to P68.33 billion making it the second richest city in the Philippines.
Also in the top five are the City of Manila (Php38.68), Cebu City (Php33.86 billion), and Pasig City (Php33.7 billion).
Completing the top ten are Taguig City (Php19.6 billion), Caloocan City (Php17 billion), Pasay City (Php16.66 billion), Davao City (Php13.18 billion), and Calamba City in Laguna (Php12.41 billion).
The report shows that only three cities outside Metro Manila are in the top ten richest cities with Cebu City placing at fourth, Davao City at ninth, and Calamba City at tenth.
