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Country Philippines
City MAKATI
Official Website http://www.makati.gov.ph
Island Grouping Luzon
Region NCR
General Information
Facts & Figures

The City of Makati, or simply Makati, is one of the cities and municipalities that comprise Metro Manila, the greater metropolitan area of the national capital of the Philippines. It is the major financial, commercial and economical hub in the Philippines, often reffered to as the Financial Capital of the Philippines since many global companies have their offices and headquarters in the city. Makati is also home to the influential Makati Business Club and the Philippine Stock Exchange. Ayala Avenue, running through the heart of the Central Business District is often called the Wall Street of the Philippines.

Makati is noted for its highly cosmopolitan culture, also being a major cultural and entertainment hub in Manila. Many expatriates live and work in the city. Makati is also home to many first-class shopping malls such as Ayala Center and Rockwell Center. The city also has many of the country's five-star hotels like The Peninsula Manila, the Mandarin Oriental, the Shangri-la Hotel Makati, Renaissance Hotel, Intercontinental Hotel Manila, and Dusit Hotel Nikko. Independent business travelers also benefit from budget hotels like the Saint Illian's Inn, El Cielito Inn, The Copa Businessman's Hotel, and The City Garden Suites, while serviced apartments like The Salcedo Suites, Fraser Place Manila, The Sunette Tower, and The Oxford Suites are gaining in popularity among business-minded travelers as well.

Makati came from the Tagalog word kati, which means tide.This primarily refers to the rise and ebb of the tide of the Pasig River on the city's northern border. The city was also known as San Pedro Macati during the Spanish era.

Today, the city is one of the most modern cities in the country and the Philippines' major global economic competitior in Southeast Asia. However, it faces challenges due to the disparate gap between the new city in the west, which contains the Central Business District, and the old city in the east, which is largely poor and where most of the city's slums are located.

Location

Makati is located within the quadrangle of 12'011"°north and 14'331'°E right at the center of Metro Manila. The city is bounded on the north by the Pasig River, facing Mandaluyong City, on the northeast by Pasig City, on the southeast by the municipality of Pateros and Taguig City, on the northwest by the City of Manila, and on the southwest by Pasay City. Makati has a total land area of 27.36 square kilometers; it constitutes 4.3 % of Metro Manila's total land area.

Land Area

27.36 km²

CLIMATE

Like anywhere else in the country, Makati has no pronounced seasons: the dry summer months from November to May and rainy months from June to October.

POPULATION

Makati City has a population of 444,867, according to the 2000 Census. This figure represents an increase of 39,824 or 8% over the 1995 Census figure. Among the cities and municipalities in Metro Manila, Makati ranks fifth in population, with a 5% share. In a span of 97 years, Makati's population grew 193 times. The 1903 Census placed the population at 2,700.

Although its population is slightly less than half a million, the daytime population of Makati City is estimated to be a million during a typical working weekday because of the large number of people who go to the city to work, shop, and do business, especially in the Central Business District.

LANGUAGE

Filipino is commonly used being the national language. English is also widely spoken and the second language is for commercial and legal translation.

Currency

Philippine Peso (Php) in denominations of 1000, 500, 200, 100, 50, 20, 10, 5, 1 in pesos and. 25, 10, 5 and 1 in centavos.

ECONOMY

The Central Business District (CBD) is where most of Makati's financial resources is concentrated. This is an informal district bounded by Gil Puyat Avenue (formerly Buendia), Makati Avenue, Ayala Avenue, Arnaiz Road (formerly Pasay Road), and Chino Roces (formerly Pasong Tamo). It mainly encompasses Legaspi Village, Salcedo Village, and parts of Bel-Air. Much of the area is owned by Ayala Land, Inc and administered through Makati Development Corporation, its subsidiary.

Many skyscrapers rise in this area. PBCom Tower along Ayala Avenue is the country's tallest building and reaches up 265 meters. It is the headquarters of the Philippine Bank of Communications, or PBCom.

One of the trading floors of the Philippine Stock Exchange is housed in Ayala Tower One and at the old Makati Stock Exchange Building, both also along Ayala Avenue. The Bank of the Philippine Islands (BPI), the country's oldest bank, has its headquarters at the corner of Ayala Avenue and Paseo de Roxas.

Other companies that have their offices and country/regional headquarters within Makati City, most within the CBD, include IBM, Procter & Gamble, Citibank, Ayala Corporation, Development Bank of the Philippines (DBP), Metrobank, Intel Philippines, Nestle, Shell, Convergys Corporation, PeopleSupport, Pan Pacific Computer Center, Inc. (PPCC) and JG Summit.

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