Makati's "Central business district"
Makati Part 1
Makati is the financial center of the Philippines; it has the highest concentration of multinational and local corporations in the country. Major banks, corporations, department stores as well as foreign embassies are based in Makati. The biggest trading floor of the Philippine Stock Exchange is situated along the city's Ayala Avenue. Makati is also known for being a major cultural and entertainment hub in Metro Manila.
According to the 2015 census, it has a population of 582,602 people making it as the 17th most populous city in the country and ranked as the 41st most densely populated city in the world with 19,336 inhabitants per square kilometer. Although its population is just half a million, the daytime population of the city is estimated to be more than one million during a typical working day because of the large number of people who go to the city to work, shop, and do business. Traffic is expected mostly during rush hour and holiday seasons.
Tradition holds that a Tagalog at a swamp on the south of the Pasig River was asked by a visitor, who was Miguel López de Legazpi, for the name of the place. As a result of the language barrier the question was misinterpreted; the Tagalog pointed to the receding tide of the Pasig River, and answered "Makati, kumákáti na" ("Ebbing, the tide is ebbing").
Captain Pedro de Brito, a retired aide to the Spanish army chief of staff, is the founder and patron of the House of San Pedro. De Brito made a modest fortune in the Manila galleon trade in the 16th century. He was also a regidor of Manila, whose post was adjudged to him at public auction for one thousand four hundred pesos of common gold, with the third part of what was promised from the increase. He took possession of his post on 24 June 1589.
In 1589, he acquired at a public auction a sprawling marshland measuring 4940 hectares, a part of which would become the 20th-century Makati. After his acquisition of the land, Capitan de Brito immediately took steps to "discharge the royal conscience", to fulfill, for the King of Spain, his duty to spread the Christian gospel. This effort was stymied, however, by local resistance to the forced dispossession of the land.
The Spaniards then assigned the area to the town of Santa Ana de Sapa and in the 1600s began to be developed as a pilgrimage center around the churches of Our Lady of Guadalupe (now Our Lady of Grace, opened 1625) and of Saints Peter and Paul (opened 1620) in what is today the población, built by missionary friars to attract worshippers, and also as a farming community. It became an independent municipality in 1670, and was christened San Pedro de Macati in honour of the town's patron, Saint Peter. The town was also famous for its pottery industry since the 18th century, with skilled potters trained by Jesuit priests. Its strategic location also made it a pitstop for pilgrims, travelling by foot or boat, towards the shrine of Our Lady of Peace and Good Voyage in Antipolo. Beginning in the early 19th century, the church has been directly administered by diocesean secular clergy.
In 1718 the Jesuits brought the Image of Nuestra Señora Virgen de la Rosa from Acapulco Mexico to the small town, it was later enthroned at the San Pedro Macati Church where it resides to this very day, and will mark its 300th anniversary in June 2018. Until the Filipino American War, the image had an ivory head and hands and a reliquary on her breast which contained a strand of a hair of the Blessed Virgin Mary, both of them stolen and were never recovered at the same time while the church served as a hospital, and are today replaced by an oval cavity and a wooden head and hands. The city's feast days on June 29, the feast of Apostles Peter and Paul, and June 30, the feast of Our Lady of the Rose are marked with the "Panatang Sayaw", as the Bailes de los Arcos (Dance of the Arches) are called, are an old tradition going back at least to the beginnings of the 19th century as a dance to thank the city patrons for blessings received by its people and by a number of events organized by city and religious leaders.
In 1851, Don José Bonifacio Róxas (an ancestor of the Zóbel de Ayala family) purchased the Jesuit estate of "Hacienda San Pedro de Macati" for 52,800 pesos. Since then, the development of Makati has remained linked with the Zóbel de Ayala family and their company, Ayala Corporation.
The town was a cradle of Filipino passive resistance against Spanish colonial rule in the 1890s and the subsequent Philippine Revolution, with the participation of the local Katipunan council based in the area with Pio del Pilar, a local resident from the village of Culi-Culi, as its president. Culi-Culi is now a barangay named in honour of Del Pilar.
By 1898, Spain ceded the Philippines and other overseas possessions to the United States after the former's defeat in the Spanish–American War. In 1901, the Americans declared the whole area south of the Pasig River, including the town of San Pedro de Macati, down to Alabang in Muntinlupa, a US military reservation, thus establishing Fort McKinley (now Fort Bonifacio). That same year, the whole town, with a population of 25,000, was incorporated from the Province of Manila to the new province of Rizal, with Marcelino Magsaysay serving as the town president. As the 1910s approached, the Meralco tranvia lines to Fort McKinley and to the western end of the town were built, opening transport lines for its residents and thus brought along potential investors who opened several businesses including the famous Santa Ana Cabaret at the terminus of the streetcar lines.
On February 28, 1914, the Philippine Legislature passed Act 2390, shortening the name, San Pedro de Macati, to simply Makati.
In 1937, the airport Nielsen Field opened in what is now the Ayala Triangle, the control tower of which still exists and is currently a restaurant. The tracks of the now Philippine National Railways reached Makatie early in the decade. During that same period, Santa Ana Park, the nation's second horse racing facility, opened to expectations from horse racing fans.
After the destruction Second World War had brought upon Manila, and the subsequent closure of Nielson Field, the town grew rapidly, and real estate values boomed. The first of the planned communities (in what are now the barangays Forbes Park, Urdaneta, San Lorenzo and Bel-Air) were established in the 1950s with the efforts of its landowner, Ayala y Compañía. At the same time, Fort McKinley, then renamed Fort Bonifacio, and the then Philippine Army headquarters, became the starting point for the building up of seven more communities by military families who worked in the base area. The first office buildings were built on what is now the Makati Central Business District. Since the late 1960s, Makati has transformed into the financial and commercial capital of the country.
During the terms of town mayors Máximo Estrella, Rafael Bañola, José Luciano, Cézar Alzona and Nemesio Yabut, massive development of the town took place, and foreign and local investors were welcomed to what was tagged as the nation's number one municipality at the time. Makati's central location adjacent to the city of Manila also made it an industrial hub for major national and international corporations. Partly as a result a new town hall just miles from the old one was built in 1962 just along J.P. Rizal Avenue (the old hall was later converted into the city museum). Mayor Bañola's term of office as town executive saw the building up of what is now the Ayala Center with the help of the Ayala firm, which would become the city's central shopping center of today.
In 1975, Makati was separated from Rizal province along with Caloocan, Malabon, Navotas, Quezon City, Marikina, San Juan, Pasig, Mandaluyong, Pateros, Taguig, Pasay City, Parañaque, Las Piñas, and Muntinlupa, to become part of the National Capital Region as a component municipality.
Following the assassination of opposition senator Benigno Aquino, Jr. on 21 August 1983, Makati became a nexus for protests against the dictatorship of President Ferdinand E. Marcos. Known as the Confetti Revolution, the demonstrations held in the central business district were led partly by employees of major corporations based in the area, culminating in the 1986 People Power Revolution that toppled Marcos’ 20-year authoritarian regime. His political rival and successor, Corazon C. Aquino–the wife of the deceased senator Aquino–became the eleventh and first female president of the Philippines. After the death of Mayor Yabut during the Revolution, Aquino appointed Jejomar Binay as acting mayor of the town of Makati; he was subsequently elected as mayor in 1988. in the early 1990s, the first skyscrapers were built during his term as Mayor.
On January 2, 1995 (one day after new year), Former President Fidel V. Ramos signed Republic Act 7854 "An Act Converting the Municipality of Makati into a Highly-Urbanized City to be known as the City of Makati", making Makati as the seventh city in Metro Manila. The law approved by a plebiscite one month later, on February 2, 1995, by majority of voters.
Makati is located within the circle of 14′40″ °north and 121′3″ °E right at the center of Metro Manila. The city is bounded on the north by the Pasig River, facing Mandaluyong, on the northeast by Pasig, on the southeast by the municipality of Pateros and Taguig, on the northwest by the city of Manila, and on the southwest by Pasay. Makati has a total land area of 27.36 square kilometres (10.56 sq mi).
Under the Köppen climate classification system, the city features a tropical monsoon climate. Together with the rest of the Philippines, Makati lies entirely within the tropics. Its proximity to the equator means that the temperature range is very small, rarely going lower than 20 °C (68 °F) or going higher than 38 °C (100 °F). However, humidity levels are usually very high which makes it feel much warmer. It has a distinct, albeit relatively short dry season from January through May, and a relatively lengthy wet season from June through December.
Makati has a population of 582,602 as of the 2015 census. Makati ranks ninth in population size within Metro Manila municipalities. 88.9% of Makati residents identified their religious affiliation as Roman Catholic. Other groups having large number of members in the city are The Church of Jesus Christ of Latter-day Saints, Ang Dating Daan, Iglesia ni Cristo, Protestantism, Islam, Hinduism, Buddhism and Judaism.
Based on the city's Transport and Traffic Improvement Plan 2004–2014, the city's daytime population is estimated to be 3.7 million during weekdays, owing to the large number of people who come to work, do business, or shop.
The daily influx of people into the city provides the skilled labor force that allows Makati to handle the service requirements of domestic as well as international transactions; it also serves as the base of a large consumer market that fuels the retail and service trade in the city. At the same time, however, the large tidal population flows exert pressure on Makati's environment, services, and utilities, most noticeably causing large traffic volumes along the major road corridors leading to the city as well as within and at the periphery of the central business district.
Economy and infrastructure
The city of Makati remains the richest local government unit (LGU) in the Philippines in terms of income from local sources and on a per capita basis. As of end-2012, Makati had registered over 62,000 business enterprises, which are engaged in financial services, wholesale/retail, services, real estate, export/import, and manufacturing. Makati also boasts of having the highest number of BPO offices in Metro Manila at 1,159 companies to date, as well as the highest number of PEZA-accredited IT Parks and Buildings. The city government of Makati has not increased its tax rates since its new Revenue Code took effect in 2006. The city has been free of deficit for 26 years.
The city is known for its developed business district called the Makati Central Business District (CBD). It is bound by EDSA, Gil Puyat Avenue, Arnaiz Avenue and Chino Roces Avenue. It mainly encompasses Legazpi Village, Salcedo Village, the Ayala Center, and parts of Bel-Air Village.
The Ayala Triangle is a sub-district of the Makati CBD, comprising the parcel of land between Ayala Avenue, Makati Avenue and Paseo de Roxas, as well as the buildings on those streets. Many multinational companies, banks and other major businesses are located within the triangle. A few upscale boutiques, restaurants and a park called Ayala Triangle Gardens are also located in the area. Ayala Avenue and Paseo de Roxas also have the distinction of being the runways of the former Nielson Field, Metro Manila's main airport in the 1930s.
The biggest trading floor of the Philippine Stock Exchange is housed in Ayala Tower One and at the old Makati Stock Exchange Building, both along Ayala Avenue.
The Makati Business Club has over 800 chief executive officers and senior executives, which represents 450 of the country's biggest corporations.
PBCom Tower along Ayala Avenue is the country's tallest office building, reaching up 259 meters. It is the headquarters of the Philippine Bank of Communications, or PBCom. The PBCom Tower is an office skyscraper ranked officially as the tallest building in the Philippines since 2001. It has a total ground-to-architectural-top height of 259 meters (850 ft), with 52 stories including an 8-level radio tower.
The Ayala Center is a major commercial development operated by Ayala Land located in the Makati CBD. The center is known for its wide array of shopping, entertainment and cultural offerings, making it a premier shopping and cultural district in the metropolis. It is a vast walkable complex with high-end malls that houses cinemas, local and international shops, homegrown restaurants and international food chains. The shopping malls that are located at the Ayala Center include Greenbelt, Glorietta, Park Square, and The Link. The Ayala Center is also home to 3 department stores namely, SM Makati, Rustan's, and The Landmark.
Aside from the Ayala Center, the Rockwell Center is also a popular shopping district in Makati. It is home to the Power Plant Mall. The Salcedo Saturday Market and Legazpi Sunday Market are popular open-air community markets. These markets offers organic products, specialty foods, fruits, vegetables, fish, gourmet items and antiques.