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Makati City


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rockwell_panshot

Power Plant Mall, Rockwell Center, Makati City

 

The City of Makati is known as the major financial centre of the country and is often called “the Philippines’ business capital”. Makati’s Ayala Avenue has the nickname “The Wall Street of the Philippines” being the location of The Philippine Stock Exchange at PSE Plaza, Ayala Triangle. (PSE’s second branch is located at Ortigas Business Center.) Of all the cities in Metro Manila, Makati City has the greatest number of multinational and local corporations in the Philippines. It is also the location of big department stores, local and international banks, and foreign embassies.

Makati has a total land area of 27.36 square kilometers. It is only 4.3% of Metro Manila’s total land area but since Makati is a major business district, the daytime population of this city is approximately more than 1 million during a work day. A great number of people  go here daily to work and to go shopping. This city is also knowns as the major cultural and entertainment hub in Metro Manila.

 

Based on income generated by this small district, Makati became an independent city on 2 Jan 1995.

 

ayalaavenue8md

Ayala Avenue, Makati City

 

Makati is famous for its high-rise skyscrapers that were built decades before the development of other cities in the country. But Makati is more than a city that is full of modern buildings. It is holds a lot of historical significance in the country as a pioneer in business and property development.

Several decades before Makati became a city, many foreigners were interested to settle here due to the rising business opportunities. One of the first foreign expats to settle in Makati is Laurie Reuben Nielson from New Zealand who arrived here in mid-1930s. He was an aviation enthusiast. He had envisioned building an airport in Makati to accommodate business trade and travel, thus the creation of the Nielson Airport in 1937. During that time, Nielson Airport was the biggest and the best-equipped airport in Asia. Today, the Nielson Tower is the location of the Filipino Heritage Library.  Nielson Airport (or Nielson Field) is now called “Ayala Triangle”.
Author: Marcelle Villegas

 

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Photo source:

Power Plant Mall – http://heart-2-heart-online.com/2009/01/25/many-new-things-at-power-plant-mall-rockwell/

Ayala Avenue – http://pinoy.md/ipb/index.php?showtopic=1542

 

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Related posts:

Shopping in Manila as an Expat

Upmarket Shopping in Manila

The Legacy of Hard Work and Prosperity of Henry Sy, Sr.

Nielson Tower:

(Part 1) Laurie Reuben Nielson – Founder of the First Airport in the Philippines

(Part 2) Nielson Airport Today