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Makati City Guide

Posted by Spire Group on September 20, 2024
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Makati City Guide

Cityscape of Makati. It is a city in Philippines known for the skyscrapers and shopping malls

Introduction

Makati City: A Vibrant Urban Oasis

Makati City, often referred to as the “Heart of Metro Manila,” is a bustling metropolis renowned for its towering skyscrapers, upscale shopping malls, and vibrant nightlife. As the Philippines’ financial capital, it attracts professionals,tourists, and residents alike, offering a unique blend of urban sophistication and cultural heritage.

Spire Group: Your Trusted Real Estate Partner

Spire Group is a leading real estate brokerage firm specializing in Makati City. With a deep understanding of the local market and extensive experience, Spire Group offers comprehensive services to individuals and businesses looking to buy,sell, rent, or invest in real estate.

Purpose of This Guide

This guide aims to provide comprehensive information for those considering living, working, or investing in Makati City.Whether you’re a professional seeking a new job, a family looking for a suitable home, or an investor exploring real estate opportunities, this guide will offer valuable insights and practical advice.

A Brief Overview of Makati City

Makati City is a first-class city located in the National Capital Region of the Philippines. It is the country’s financial center, home to numerous multinational corporations, banks, and financial institutions. Makati is known for its modern infrastructure, upscale shopping malls, and vibrant nightlife.

Historical Background

The name “Makati” is derived from the Tagalog word “kati,” meaning “tide,” referring to the Pasig River’s tidal influence on the area. Originally a swampy region, Makati was founded by Spanish conquistador Miguel López de Legazpi in the 16th century. Over time, it evolved into a thriving commercial center, attracting foreign investors and becoming a symbol of economic growth in the Philippines.

Makati’s Role as the Philippines’ Financial Capital

Makati’s strategic location and development initiatives have solidified its position as the Philippines’ financial capital. The city is home to the Philippine Stock Exchange, numerous banks, and multinational corporations. It offers a conducive business environment with modern infrastructure, a skilled workforce, and a strong legal and regulatory framework.

Key Landmarks and Attractions

Makati City boasts a wide range of landmarks and attractions, including:

  • Shopping Malls: Ayala Center, Greenbelt, Power Plant Mall, and SM Makati
  • Museums: Ayala Museum, Yuchengco Museum, and National Museum of Fine Arts
  • Parks: Ayala Triangle Gardens, Legazpi Active Park, and Bonifacio Global City Park
  • Historical Sites: Guadalupe Church, San Pedro Church, and the Makati City Hall
  • Nightlife: Numerous bars, clubs, and rooftop lounges
  • Business Districts: Central Business District, Rockwell Center, and Salcedo Village

Makati’s Vibrant Culture and Lifestyle

Makati offers a diverse range of cultural experiences, from world-class dining and shopping to exciting nightlife and recreational activities. The city is home to numerous cultural institutions, including theaters, art galleries, and museums.

Chapter 1: Exploring Makati City

History and Background

A Spanish Settlement and Colonial Legacy

Makati City, a thriving metropolis in the Philippines, traces its roots back to the Spanish colonial era. Originally a swampy region, it was founded in the 16th century by Spanish conquistador Miguel López de Legazpi. The area was named “Makati” after the Tagalog word “kati,” meaning “tide,” reflecting its proximity to the Pasig River.

Transformation into a Financial Hub

Over the centuries, Makati underwent a significant transformation, evolving from a rural settlement to a bustling urban center. The city’s strategic location and proximity to Manila, the national capital, played a crucial role in its development.In the 20th century, Makati experienced rapid urbanization and industrialization, attracting foreign investors and becoming a hub for businesses and commerce.

Key Events and Milestones

  • Spanish Colonization: Makati’s history begins with its establishment as a Spanish settlement in the 16th century.
  • American Occupation: After the Spanish-American War, Makati came under American rule, leading to further development and modernization.
  • Urbanization and Industrialization: In the 20th century, Makati witnessed rapid growth, with the establishment of industrial zones and the development of infrastructure.
  • Financial Center: Makati emerged as the Philippines’ financial capital, attracting multinational corporations,banks, and financial institutions.

Geography and Demographics

Location Within Metro Manila

Makati City is located in the National Capital Region (NCR) of the Philippines, making it a central hub for business,commerce, and culture. It is bordered by Pasay City to the west, Taguig City to the southeast, and Makati City to the north.

Population and Demographics

Makati has a relatively small population compared to other cities in Metro Manila. However, its dense urban environment and high-rise buildings contribute to a vibrant and cosmopolitan atmosphere. The city’s population is diverse, with a mix of residents from different parts of the Philippines and foreign expatriates.

Key Neighborhoods and Districts

Makati is divided into several distinct neighborhoods and districts, each with its own unique character:

  • Ayala Center: The city’s premier business and commercial district, known for its upscale shopping malls, high-rise offices, and luxury residences.
  • Rockwell Center: A trendy neighborhood with stylish boutiques, trendy restaurants, and vibrant nightlife.
  • Salcedo Village: A peaceful residential area with tree-lined streets and modern condominiums.
  • Legaspi Village: A commercial and residential district with a mix of offices, shops, and residential buildings.
  • Central Business District: The heart of Makati’s financial district, featuring towering skyscrapers and bustling streets.
  • Poblacion: A vibrant neighborhood known for its bohemian atmosphere, trendy bars, and restaurants.

These neighborhoods offer a variety of living options, from luxury apartments to affordable condominiums, catering to different lifestyles and preferences.

Chapter 2: Living in Makati

Residential Areas

Makati offers a diverse range of residential options to suit various lifestyles and preferences. Here are some of the most popular neighborhoods:

Ayala Center

  • Pros: Prime location, upscale shopping and dining, proximity to major business districts
  • Cons: Higher cost of living, traffic congestion during peak hours
  • Average Rental and Property Prices: Among the most expensive areas in Makati, with high-rise condominiums and luxury apartments commanding premium prices.

Rockwell Center

  • Pros: Trendy atmosphere, vibrant nightlife, convenient access to amenities
  • Cons: Can be noisy due to nearby commercial areas
  • Average Rental and Property Prices: Mid-range to high-end options, with prices slightly lower than Ayala Center.

Salcedo Village

  • Pros: Peaceful and family-friendly environment, green spaces, proximity to schools and hospitals
  • Cons: Limited commercial options compared to other neighborhoods
  • Average Rental and Property Prices: Mid-range to affordable options, with prices varying depending on the specific location within the village.

Legaspi Village

  • Pros: Convenient location near Makati’s Central Business District, variety of housing options
  • Cons: Can be congested during peak hours
  • Average Rental and Property Prices: Wide range of options, from affordable apartments to luxury condominiums.

Schools and Educational Institutions

Makati is home to numerous reputable schools and educational institutions, catering to students of all ages. Some of the most well-regarded options include:

  • International Schools: International School Manila, Philippine International School, Brent International School
  • Local Schools: Colegio San Agustin-Makati, Colegio de San Benilde, De La Salle University-Manila
  • Universities: University of the Philippines – Diliman (Makati Campus), Ateneo de Manila University (Makati Campus)

Healthcare Facilities

Makati boasts a robust healthcare system with several major hospitals and medical centers. Some of the most prominent options include:

  • Makati Medical Center: A leading private hospital offering a wide range of medical services.
  • St. Luke’s Medical Center – Global City: A world-class hospital with advanced medical technology.
  • Asian Hospital and Medical Center: A specialized hospital focusing on cardiac, oncology, and neurology services.

Cost of Living

Makati is generally considered one of the more expensive cities in the Philippines. However, the cost of living can vary significantly depending on lifestyle and housing choices. Here’s a breakdown of typical living expenses:

  • Housing: Rental prices for apartments and condominiums can be high, especially in prime locations.
  • Food: Dining out can be expensive, but there are also affordable food options available.
  • Transportation: Public transportation is relatively affordable, but owning a car can increase expenses due to fuel costs and parking fees.
  • Utilities: Costs for electricity, water, and internet can vary depending on usage.

Compared to other cities in the Philippines, Makati generally has a higher cost of living due to its prime location,developed infrastructure, and the demand for high-quality services. However, it’s important to note that individual expenses can vary depending on lifestyle choices and budgeting.

Chapter 3: Working in Makati

Business Districts

Makati is home to several prominent business districts, each offering unique opportunities and amenities:

Central Business District (CBD)

  • The heart of Makati’s financial district
  • Home to numerous multinational corporations, banks, and financial institutions
  • Features iconic skyscrapers such as Ayala Triangle One and Two, and RCBC Plaza
  • Offers a wide range of office spaces, from small suites to large corporate headquarters

Rockwell Center

  • A thriving business and commercial district known for its modern architecture and upscale amenities
  • Houses a mix of offices, retail spaces, and residential buildings
  • Popular among professionals and entrepreneurs seeking a more relaxed and stylish work environment

Salcedo Village

  • A growing business district with a focus on technology and innovation
  • Home to several start-ups and technology companies
  • Offers a more affordable option for office spaces compared to the CBD

Legaspi Village

  • A mixed-use district with a mix of residential and commercial properties
  • A popular choice for small businesses and entrepreneurs
  • Offers a more relaxed and suburban atmosphere compared to the CBD

Major Companies and Industries

Makati is a hub for a wide range of industries, including:

  • Finance and Banking: Home to major banks, investment firms, and insurance companies
  • Information Technology: A growing hub for IT companies and start-ups
  • Business Process Outsourcing (BPO): A major player in the global BPO industry
  • Real Estate: A thriving real estate market with numerous property developers and investors
  • Professional Services: Accounting, law, consulting, and other professional services firms

Job Opportunities and Career Prospects

Makati offers a diverse range of job opportunities, catering to professionals from various fields. The city’s strong economy and vibrant business environment make it an attractive destination for career-oriented individuals.

Key sectors with high demand for talent include:

  • Finance and Banking
  • Information Technology
  • Business Process Outsourcing
  • Real Estate
  • Professional Services

Office Spaces and Commercial Properties

Makati offers a wide range of office spaces and commercial properties to suit the needs of businesses of all sizes. From small suites to large corporate headquarters, there are plenty of options available.

Factors to consider when choosing an office space:

  • Location: Consider the proximity to transportation, amenities, and other businesses.
  • Size: Choose a space that is appropriate for your team and future growth.
  • Amenities: Look for buildings with modern amenities such as high-speed internet, meeting rooms, and parking facilities.
  • Lease Terms: Negotiate favorable lease terms, including rent, term length, and renewal options.

Spire Group’s Expertise in Commercial Real Estate

Spire Group is a leading real estate brokerage firm with extensive experience in commercial real estate in Makati. Our team of experts can assist you in finding the ideal office space or commercial property to meet your business needs. We offer comprehensive services, including:

  • Property Search: Identifying suitable properties based on your specific requirements
  • Negotiations: Representing your interests in lease negotiations
  • Due Diligence: Conducting thorough due diligence to ensure a sound investment
  • Property Management: Providing ongoing property management services

By partnering with Spire Group, you can benefit from our deep knowledge of the Makati market and our commitment to delivering exceptional service.

Chapter 4: Shopping and Entertainment

Shopping Malls

Makati is a shopper’s paradise, offering a wide range of shopping malls to cater to diverse tastes and budgets. Here are some of the most popular options:

Ayala Center

  • One of the largest and most prestigious shopping malls in the Philippines
  • Features a mix of high-end luxury brands, department stores, and specialty shops
  • Houses Ayala Museum, Greenbelt Park, and several dining options

Greenbelt

  • A collection of interconnected malls offering a variety of shopping and dining experiences
  • Known for its upscale boutiques, art galleries, and outdoor spaces
  • Features Greenbelt Park, a popular destination for relaxation and people-watching

Power Plant Mall

  • A smaller, more boutique-focused mall with a trendy atmosphere
  • Known for its unique selection of fashion brands, specialty stores, and restaurants
  • Features a rooftop bar with panoramic city views

SM Makati

  • A large-scale mall offering a wide range of stores, from budget-friendly options to international brands
  • Includes a cinema, department store, and food court

Nightlife

Makati’s nightlife scene is vibrant and diverse, with something to offer everyone. From trendy bars and clubs to rooftop lounges and live music venues, there are plenty of options to choose from.

Popular Entertainment Districts:

  • Poblacion: A bohemian neighborhood with a growing nightlife scene, featuring a variety of bars, restaurants, and live music venues.
  • Rockwell Center: A trendy district with upscale bars, clubs, and rooftop lounges.
  • Ayala Center: Offers a mix of bars, clubs, and live music venues, catering to a diverse crowd.

Recreational Activities

Makati offers a variety of recreational activities for residents and visitors. Here are some popular options:

Parks and Gardens:

  • Ayala Triangle Gardens: A popular urban park with landscaped gardens, fountains, and outdoor events.
  • Legazpi Active Park: A spacious park perfect for jogging, biking, and outdoor activities.
  • Bonifacio Global City Park: A large park with green spaces, playgrounds, and recreational facilities.

Sports Facilities and Fitness Centers:

  • SM Mall of Asia Arena: A world-class sports and entertainment venue.
  • Century Park Hotel: Offers a swimming pool, gym, and spa facilities.
  • Private fitness centers and gyms: Many residential buildings and commercial complexes have their own fitness centers.

Cultural Events and Festivals:

  • Ayala Triangle Music Festival: A popular annual music festival featuring local and international artists.
  • Jazz and Blues Festival: A celebration of jazz and blues music, featuring performances by renowned musicians.
  • Art Fairs and Exhibitions: Makati hosts various art fairs and exhibitions throughout the year.

Additional Activities:

  • Shopping: Explore the city’s numerous shopping malls and markets.
  • Dining: Enjoy a wide variety of cuisines at Makati’s restaurants and food stalls.
  • Sightseeing: Visit historical landmarks, museums, and cultural attractions.
  • People-watching: Enjoy the vibrant atmosphere and diverse crowd in Makati’s streets and public spaces.

Chapter 5: Food and Dining

Cuisine

Makati offers a diverse culinary scene, with a wide range of cuisines to satisfy every palate. From traditional Filipino dishes to international gourmet fare, there’s something to suit every taste.

Filipino Cuisine

  • Must-try dishes: Adobo, sinigang, lechon, lumpia, and pancit
  • Popular Filipino restaurants: Ilustrado, Purple Yam, Café Ilustrado

International Cuisines

  • Japanese: Mendokoro Ramenba, Oyakodon
  • Korean: Bibing Nengs, Kang Ho Dong Baekjeong
  • Chinese: Chinatown Binondo, Crystal Jade
  • Italian: Cibo, Osteria Romana
  • French: Le Souffle, La Trappe

Fusion Cuisine

  • Filipino-Spanish: Café del Rio
  • Filipino-American: The Fat Cow
  • Filipino-Japanese: Teriyaki Boy

Food Markets

Makati is home to several vibrant food markets where you can find fresh produce, local delicacies, and street food.

  • Salcedo Market: A popular weekend market offering a wide variety of food stalls, artisanal products, and live music.
  • Legazpi Market: A traditional wet market with a wide selection of fresh fruits, vegetables, seafood, and meat.
  • Makati Night Market: A night market with a variety of food stalls and street vendors.

Coffee Shops and Cafés

Makati is a coffee lover’s paradise, with numerous coffee shops and cafés offering a variety of brews and pastries.

  • Starbucks: A popular international chain with multiple locations in Makati.
  • Coffee Bean & Tea Leaf: Another popular chain offering a wide selection of coffee drinks and pastries.
  • Third Wave Coffee Shops: For a more artisanal coffee experience, check out local coffee shops like Toby’s Estate,Commune, and The Wholesome Table.

Chapter 6: Transportation

Public Transportation

Makati is well-connected to other parts of Metro Manila by various public transportation options:

Metro Rail Transit (MRT)

  • The MRT-3 line serves Makati, with stations at Ayala and Buendia.
  • Offers a convenient and affordable way to travel within Metro Manila.
  • Fares vary depending on the distance traveled.

Light Rail Transit (LRT)

  • The LRT-1 line has stations at Ayala and Buendia, providing access to other parts of Metro Manila.
  • Fares vary depending on the distance traveled.

Buses

  • Numerous bus routes pass through Makati, connecting it to other cities and municipalities.
  • Fares vary depending on the distance traveled and the type of bus.

Taxis and Ride-Sharing

Taxis and ride-sharing services are widely available in Makati, providing convenient and door-to-door transportation.

  • Taxis: Flag-down rates and additional charges may apply.
  • Ride-Sharing: Popular apps like Grab and Uber offer convenient and affordable transportation options.
  • Estimated Fares: Fares vary depending on the distance traveled and traffic conditions.

Parking

Parking can be a challenge in Makati, especially during peak hours. Public parking garages are available in shopping malls, office buildings, and other commercial areas. Valet parking is also available at some establishments.

Tips for Parking:

  • Plan ahead: Check for available parking spaces before arriving at your destination.
  • Consider alternative transportation: Use public transportation or ride-sharing services to avoid parking hassles.
  • Be aware of parking restrictions: Some areas may have limited parking or restrictions during certain times.

Chapter 7: Expat Life in Makati

Visa Requirements

Expatriates planning to live and work in Makati need to obtain the appropriate visa and work permit. The specific requirements may vary depending on nationality and the nature of employment.

Common Visa Types:

  • 9(a) Visa: Issued for employment purposes, typically for those working for a Philippine company.
  • 9(b) Visa: Issued for investors and business owners.
  • 13(a) Visa: Issued for individuals engaged in non-gainful activities, such as retirees or dependents.

Procedures for Obtaining Visas and Work Permits:

  • Submit Application: Submit the required application forms, documents, and fees to the Philippine Embassy or Consulate in your home country.
  • Interview: Attend an interview at the Philippine Embassy or Consulate.
  • Approval and Issuance: If approved, the visa will be issued and stamped in your passport.
  • Work Permit: Once in the Philippines, obtain a work permit from the Bureau of Immigration.

Cost of Living for Expats

Makati can be a relatively expensive city to live in, especially compared to other parts of the Philippines. However, the cost of living can vary depending on lifestyle choices and housing preferences.

Factors Affecting Cost of Living:

  • Housing: Rental prices for apartments and condominiums can be high, especially in prime locations.
  • Food: Dining out can be expensive, but there are also affordable options available.
  • Transportation: Owning a car can increase expenses due to fuel costs and parking fees.
  • Utilities: Costs for electricity, water, and internet can vary depending on usage.

Tips for Saving Money:

  • Cook at home: Prepare meals at home to save money on dining out.
  • Use public transportation: Take advantage of Makati’s public transportation system to reduce transportation costs.
  • Shop for groceries at local markets: Find affordable produce and groceries at local markets.
  • Negotiate prices: Bargain for better deals, especially at markets and street vendors.
  • Join expat communities: Connect with other expats for recommendations and discounts.

Social Communities and Networking

Makati has a vibrant expat community, offering opportunities for networking, socializing, and making friends.

Expat Communities and Organizations:

  • Makati Expat Club: A popular organization for expats in Makati, offering social events, networking opportunities,and information resources.
  • International Women’s Groups: Several women’s groups provide support and networking opportunities for female expats.
  • Online Forums and Groups: Connect with other expats through online forums and social media groups.

Networking Opportunities:

  • Social Events: Attend expat events, parties, and gatherings to meet new people.
  • Professional Networking: Attend industry events, conferences, and workshops.
  • Volunteer Work: Get involved in volunteer activities to meet like-minded people and give back to the community.

By joining expat communities and actively participating in networking activities, you can build a strong social circle and make your stay in Makati more enjoyable.

Chapter 8: Investing in Makati

Real Estate Market

Makati’s real estate market has consistently shown strong growth and remains an attractive investment option. Here’s a look at current trends and opportunities:

Current Trends and Market Conditions

  • Rising Property Values: Property values in Makati have been steadily increasing over the years, driven by strong demand from both local and foreign investors.
  • Condominium Development: There is a continued development of high-rise condominiums in Makati, catering to the growing demand for modern and convenient living spaces.
  • Office Space Demand: The strong economy and growing business sector have led to increasing demand for office spaces in Makati.

Investment Opportunities

  • Residential Properties: Investing in residential properties, such as condominiums or apartments, can offer steady rental income and potential capital appreciation.
  • Commercial Properties: Investing in commercial properties, such as office buildings or retail spaces, can provide stable rental income and potential for long-term appreciation.
  • Mixed-Use Developments: Investing in mixed-use developments that combine residential, commercial, and retail components can offer diversified income streams.

Spire Group’s Expertise in Real Estate Investment

Spire Group offers comprehensive real estate investment services, including:

  • Market Analysis: Providing in-depth analysis of the Makati real estate market to help investors make informed decisions.
  • Property Sourcing: Identifying suitable investment properties based on client preferences and budget.
  • Due Diligence: Conducting thorough due diligence to assess property value, potential risks, and returns.
  • Investment Strategy: Developing customized investment strategies tailored to individual investor goals and risk tolerance.
  • Property Management: Offering professional property management services to maximize rental income and property value.

Other Investment Options

While real estate is a popular investment choice in Makati, there are other investment options to consider:

  • Stocks: Investing in stocks of publicly listed companies can offer potential for capital gains and dividends.
  • Bonds: Investing in bonds, such as government bonds or corporate bonds, can provide a steady income stream and relatively low risk.
  • Mutual Funds: Investing in mutual funds allows you to diversify your portfolio and gain exposure to a variety of asset classes.

It’s important to conduct thorough research and consult with a financial advisor before making any investment decisions.

Chapter 9: Essential Information

Emergency Contacts

  • Police: 117
  • Fire Department: 119
  • Emergency Medical Services: 112
  • Makati Medical Center: +632 8810 7777
  • St. Luke’s Medical Center – Global City: +632 727 0001
  • Asian Hospital and Medical Center: +632 804 6666

Local Customs and Etiquette

  • Filipino Time: Be mindful of Filipino time, which is a more relaxed approach to punctuality.
  • Greetings and Politeness: Filipinos are known for their warmth and hospitality. Greet people with a smile and use polite language.
  • Respect for Elders: Show respect for elders by addressing them with appropriate titles.
  • Modesty: Dress modestly, especially when visiting religious sites or government offices.
  • Gift-Giving: It’s customary to give gifts when visiting someone’s home or attending special occasions.

Useful Tips and Advice

  • Learn Basic Filipino Phrases: Knowing a few basic Filipino phrases can be helpful in interacting with locals.
  • Safety Precautions: Be aware of your surroundings and take necessary safety precautions, especially in crowded areas.
  • Bargaining: Bargaining is common in markets and street vendors.
  • Public Transportation: Be patient and mindful of local customs when using public transportation.
  • Weather: Be prepared for the tropical climate, with hot and humid weather during most of the year.

By following these tips, you can navigate Makati City with ease and enjoy a comfortable and fulfilling experience.

Appendix

Glossary of Filipino Terms

  • Salamat: Thank you
  • Pasensya po: Excuse me
  • Kamusta: How are you?
  • Mabuhay: Long live (used as a greeting or toast)
  • Pwede ba? Can I?
  • Opo: Yes
  • Hindi: No
  • Pakiusap: Please
  • Bahay: House
  • Trabaho: Work
  • Kuhanan: To take (e.g., a photo)
  • Pabili: Please buy (for a store clerk)

Useful Websites and Resources

Spire Group Contact Information

Spire Group

  • Address: Bonifacio Global City, Taguig, Metro Manila
  • Phone: +63 927-548-6911
  • Mobile: +63 927-548-6911
  • Email: info@spire.com.ph
  • Website: https://spire.com.ph

Testimonials from Clients

  • Client 1: “Spire Group was incredibly helpful in finding me the perfect condo in Makati. Their team was knowledgeable, professional, and always willing to go the extra mile.”
  • Client 2: “I highly recommend Spire Group for their expertise in commercial real estate. They helped me find the ideal office space for my business and negotiated a great deal.”
  • Client 3: “Spire Group provided excellent customer service and support throughout the entire process of buying my home in Makati. I’m very satisfied with their services.”

This outline provides a comprehensive framework for the Makati City Guide. By covering these topics and incorporating relevant information from Spire Group’s expertise, you can create a valuable resource for individuals considering living,working, or investing in Makati City.

 

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