The lone Mindanao local government unit in the list

With PHP19.784 billion in total assets last year, Davao City has landed the 10th spot among the richest cities in the country in 2019, according to the Commission on Audit’s (COA) Annual Financial Report (AFR) for Local Government.

Released on Thursday, the COA report listed Makati City as the wealthiest city in the Philippines, with PHP233.7 billion in assets, followed by Quezon City (PHP96.4 billion), Manila (PHP64.8 billion), Pasig (PHP45.6 billion), Cebu City (PHP34.7 billion), Mandaue City (PHP32.1 billion), Taguig City (PHP29 billion), Caloocan (PHP20.5 billion), and Pasay (PHP19.7 billion). Read More