Property Investment – Makati City
Right in the centre of the region known as Metro Manila is the financial centre of the Philippines, Makati City. The city has the highest concentration of multinational and local businesses in the country as well as banks, department stores and is the home of the largest trading floor of the Philippine stock exchange.
Although the city only has a resident population of half a million, its total daytime population doubles to over one million with all the people coming to the thriving commercial and financial centre as well as those visiting the many cultural and entertainment attractions and to shop. The daily influx of people provides a skilled workforce that gives the city its ability to cater for the service requirements of all the national international transactions carried out in the city as well as fuelling the growing demand in the consumer markets.
The city is the richest local government unit in the Philippines and has over 62,000 businesses registered within its boundaries including retail, financial services and real estate. Makati is also the centre of the countries booming BPO (Business Process Outsourcing) industry and home of many IT business parks and facilities.
Makati is a city with something for everybody; a bustling international business centre which is also home to many museums and art galleries as well as sports clubs, The Manila Polo Club and the Manila Golf club with an 18-hole golf course. The city retains its Asian feel whilst still being comfortable and familiar to western visitors making it an attractive destination for business people from all around the world.
From what was once a town, completely distinct from Manila, with just a few pockets of business establishments here and there in the 1960’s and 1970’s Makati has grown in just twenty to thirty years to become the busiest business and commercial centre in the Philippines. The five story buildings of the past have been replaced by towering 30 plus story business skyscrapers and luxury condominiums.
But it’s not all business and skyscrapers in the city. Pockets of green spaces have also been kept, one of the most well-known of which is Greenbelt Park. A part of the Greenbelt complex, Greenbelt Park was built and is maintained by the country’s leading business group, Ayala Land after which many streets and other locations in the city are also named. The Greenbelt complex is a pleasant mixture of green space, restaurants and shops surrounded by the hustle and bustle of the busy city around it.
Most of the residents of Makati live in apartments or condominiums within the city or in nearby gated subdivisions and demand for real-estate is growing along with the city’s popularity as a financial hub. Many new and exciting developments are already under way or are planned to meet the ever growing demand and investment opportunities which abound within the city of Makati.