Abstract Functional open spaces in the city are widely regarded today as vital components of a healthy, safe and resilient human settlement in the modern world, an indication of sustainable development is the amount of open space allotted per capita. The World Health Organization (WHO) puts it at nine (9) square meters per capita. Despite the associated benefits with the provision of open spaces in urban environments, their provision and management continue to remain a major challenge to urban planners, city managers and urbanites alike. In ensuring the proper management of open spaces, here is the need to give attention to incentive schemes that promote inclusiveness and participation of community residents. This has become particularly useful given the challenges associated with the strict regulation and enforcement regimes which have yielded very little results over time. This study therefore attempted to study incentives in the conservation and development of open spaces in Quezon City by examining available incentive schemes and programs worldwide that can be juxtaposed against the regulatory, planning and policy environment of Quezon City to determine their feasibility, acceptance, and implementation viability. The analysis was done within the context of Quezon City, the largest of Metro Manila's cities, which boast of large parks, a sub-watershed, multi-functional open spaces such as university campuses, and relatively undeveloped areas. Findings of the study indicate that the respondent's knowledge about the available incentives for the development and preservation of open space were much limited and inclined to the ones that present developers with some financial gains and extra developmental favors. Furthermore, findings from the study showed that Quezon City uses two broad public policy instruments in the management, development, and preservation of open spaces. These broad instruments include (1) public ownership and management and((2) regulation.