Recognizing the vital role of government owned and controlled corporations to operationalize mechanisms that can provide sustainable programs for social and economic growth, the Philippine Congress
enacted into law, Republic Act 10646, creating the Quezon City Development Authority. The QCDA will provide the Quezon City government with a vital entity for providing additional investments that will enable the city to generate employment opportunities for its residents focused on proprietary investments.
Mayor Herbert Bautista believes that, with the strategic operation of the QCDA, “…our city will become the global Quezon City.”
The corporation, which will have an authorized capital stock of Php 1 billion, shall provide for the development and implementation of a comprehensive and integrated urban renewal program for the city. Its functions shall include:
With the creation of the QCDA, the QC Housing and Urban Renewal Authority (HURA), a corporation owned by the city government tasked to develop sustainable approaches to provide low-cost dwelling units for the city's informal settlers and low-income government employees shall be dissolved. All assets, liabilities and projects of the QC-HURA shall be automatically transferred to the QCDA.