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ABOUT MAKATI

Makati City belongs to the seventeen urban centers that define Metro Manila, one of the most highly populated Metro regions anywhere. Having a population of over half a million people, Makati is rated as the 42nd most densely populated city in the world, with roughly 530,000 residents.

LOCATION

Around the northern and eastern borders of Makati City curl the serpentine length of the Pasig River, which separates the premier urbanscape from the adjacent cities of Pasig and Mandaluyong and the municipality of Pateros. Due west is Pasay City, joined at various points to Makati’s major arteries via the South Superhighway, Gil Puyat and Taft Avenues. Across Epifanio de los Santos Avenue (EDSA) from the Ayala Center are the posh villages of Forbes Park and Dasmariñas. The trend spills over Makati’s boundaries all the way down the South Superhighway towards the newer subdivisions of Magallanes and Merville Park in Parañaque, and Ayala Alabang in Muntinlupa. Villamor Air Base, skirting the highway due southwest, is the headquarters of the Philippine Air Force. The city occupies a total land area of 29.9 sq. kilometers.

TRANSPORTATION AND ACCESSIBILITY

Makati is a major traffic generator for the greater Metropolitan Manila Area because it is a Central Business District. The City attracts a large amount of vehicle traffic due to its relatively large resident population and its predominantly service-oriented economy. Thus, the City regulates the in-bound and out-bound traffic during the morning and afternoon peak hours respectively. Mobility and accessibility, is one of Makati’s most important requirements. However, continuing population growth, economic development, and corresponding increases in vehicular trips that are internally generated or passing through the City have constrained regional accessibility and local circulation. It is, therefore, a great concern that any further development in the City must be sustainable in terms of its traffic-carrying capacity, or programs are identified to mitigate potential severe congestion.

Road Network System

The City’s road network is part of a system of circumferential and radial roads of Metro Manila. Traffic congestion within Makati is compounded by the fact that major expressways exist in north and south of Metro Manila but they are not interconnected. As a result, north and south through traffic is fed to major roads that are at the same time the major gateways to Makati.

These gateways are Roxas Boulevard, Osmeña Highway, EDSA, and C5. Among these roads, EDSA is the busiest with 170,000 vehicles per day along the stretch from Guadalupe Bridge to Sen. Gil Puyat Avenue. Next is C5 with 136,000 vehicles per day within the vicinity of Kalayaan Avenue and Fort Bonifacio. Osmeña Highway has 115,000 vehicles per day within the Don Bosco area, while Roxas Boulevard has 75,000 vehicles per day within the segment south of Sen. Gil Puyat Avenue.

Several projects were in place to improve gateways capacity to Makati City. These include the EDSA interchanges (Sen. Gil Puyat-EDSA northbound interchange, Ayala Avenue-EDSA northbound interchange, and, EDSA-Ayala- Pasay Road Interchange) and the Metro Manila Skyway (Don Bosco slip ramps, Pasay Road-Amorsolo ramps, and Sen. Gil Puyat Ave Ramps).

Feeder roads to the City are J.P. Rizal Avenue, Kalayaan Avenue, Sen. Gil Puyat Avenue, Ayala Avenue, and Chino Roces Avenue. The roads combined with 435 kilometers of Makati roads (distributed among its 1,151 streets) provide travel space for both Makati and external traffic.

Traffic Volume and Demand

Based on 2011 estimates, Makati generates 594,872 vehicle trips daily equivalent to about 13% of the 4.5 million Metro Manila vehicle trips. The major destinations of Makati City internal traffic reckoned from Barangay Poblacion are the Makati CBD and clusters of Barangays in Northwest and Northeast. Eleven percent of internal traffic crosses Epifanio Delos Santos Avenue (EDSA) making this a major traffic issue considering that EDSA is a 10-lane highway with commuter rail line at the center.

For regional distribution of external traffic, 62% is northbound (including City of Manila), 25% is southbound (including Pasay City), and 13% is eastbound (Taguig, Pateros, Marikina, and eastern province of Rizal)

In terms of vehicle composition, of the total traffic generated by the City, 55% is car; 25% jeepneys; 6% buses; and, 14% trucks or goods vehicles. Jeepneys and buses are transit vehicles and they have fixed routes. Car travel is being managed through Number Coding scheme.

Transit Network

The transit systems in the City are road-based (jeepneys and buses) and rail- based (rail). For road-based transit, jeepneys are taken mainly for local circulation while buses, with the exception of Fort Bus, are regional in scope and service. Rail-based transit lines that serve Makati are all part of the regional system. This includes the LRT 1, MRT 3, and the PNR.

Rail Transit

The Philippine National Railways (PNR), is a railway company owned by the Philippine Government that operates a commuter line service in Metro Manila and another line to the Bicol Region. In 2010, PNR carries 8,000 passengers daily through its commuter line service.

Light Rail Transit Line 1 (LRT1) originally operates from Taft Avenue to Monumento with 18 stations.  In 2011, LRT 1 has an average total daily passenger boarding of 435,121. The Sen. Gil Puyat Station of LRT 1 directly serves Makati commuters. In 2011, this station served about 6,000 commuters for one (1) peak hour.

Mass Rail Transit 3 (MRT 3) is also known as EDSA MRT because it runs almost the entire stretch of EDSA. This is thus far the most important rail system that serves Makati since four of its stations are located inside the City. With estimated peak-hour passenger volume in 2011, these stations include Guadalupe (5,463 passengers); Sen. Gil Puyat (3,499 passengers); Ayala (6,247 passengers) and, Magallanes (5,130 passengers). For its entire alignment, MRT 3 has 13 stations and the average daily passenger boarding is about 427,000 in 2011. Majority of MRT 3 commuters are mostly employees.

Light Rail Transit 2 (or LRT 2) has no direct impact on Makati Commuters except that it links with MRT 3 at Cubao Station and LR1 at Bambang Station (Recto). LRT 2 runs east-west direction, with eleven stations. LRT 2 is under capacity with only 177,000 average daily passengers boarding. According to surveys, LRT 2 commuters are majority students.

Water Transport

The water-based transportation that used to serve commuters through Pasig River is the Pasig River Ferry Service. The Pasig River Ferry Service has fourteen stations with two (2) stations located in Makati – the Valenzuela Station in Barangay Valenzuela and the Guadalupe Station in Barangay Guadalupe Nuevo. The boats have maximum capacity of 150 passengers, but the actual demand is much lower with only less than 2,000 passengers per day.

Other than the Pasig River Ferry System, informal boat system exists called “Tawiran” using a traditional boat to cross the Pasig River going to and from the adjacent City of Mandaluyong.

Air Transport

Makati is very accessible to the commercial airports of Metro Manila. The usual route of EDSA-Tramo to the airport terminal is only about six (6) kilometers. Accessibility of Makati City to the airport was further enhanced with the opening of the NAIA Expressway Phase 1. This is basically a set of ramps from of Skyway to Sales Avenue fronting NAIA Terminal 3. Helicopter service from most of the city’s hotels is also available as chartered service while top companies have their private helicopters for limited services.

Traffic Demand Management (TDM)

Traffic demand management measures in Makati are aimed at providing rational traffic operations by increasing mobility. The TDMs are in the form of one-way street system and signalization. To encourage walking, the Central Business District of Makati also embarked on the construction of a pedestrian walkways network consisting of elevated, at-grade pedestrian-protected walkways

LIFESTYLE

Makati is notable for its exceptionally multicultural lifestyle, and for it’s reputation as a major entertainment center in the Manila area. Expatriates often choose to live in Makati, which has caused a large expatriate community to grow in the area with citizens from all over the world. Makati is well known also for its top notch shopping and department stores, found in the Greenbelt, Rockwell Center, Glorietta Mall, and Ayala Center. The city also also boasts the tallest building in the Philippines with the PBCom Tower.

This affluent city southwest of Manila is the country’s financial center, earning it the nickname, “Wall Street of the Philippines.” The major banks, corporations, department stores as well as embassies of the different nations are based here. Situated along Ayala Avenue is the Makati Stock Exchange, which houses the trading of stock. Fully developed, well-reputed city villages provide the perfect address for office buildings, shops, and restaurants.

Right in the heart of bustling Makati, spread along Ayala Avenue, is Ayala Center, the country’s business and financial center. Encompassing the Glorietta and Greenbelt shopping malls, among others, Ayala Center is also a commercial complex completely at par with the world’s most modern business cosmos. Within it is the Ayala Museum, among the city’s primary repositories of history, culture, and heritage, along with the Filipinas Heritage Library and Museo ng Makati.

Makati has the highest concentration of the country’s finest department stores, fashion boutiques, exclusive jewelry shops and antique stores, shoe stores, bookstores, and most other commercial establishments. In identified portions, the city contains the most exclusive residential subdivisions, including Forbes Park, where many of the country’s wealthy and powerful families make their homes. Five-star hotels and restaurants further provide the ultimate avenue for a life of comfort and relaxation.

SCHOOLS

RENTAL VALUES

Around 530-1,040 per sq.m. depending on the furnishings and development.

APPRECIATION

Capital values rise in Q4 2016; trend likely to continue

Capital values for Makati CBD residential properties rose by 2.3% to PHP180,300 (USD3,700) per sq m from PHP176,200 (USD3,600) per sq m in Q3 2016. Fort Bonifacio prices increased by 2.2% to PHP163,200 (USD3,300) per sq m per month. Prices in Rockwell also increased to PHP197,400 (USD4,000) per sq m per month by 1.1% compared to average prices in the previous quarter.

Given the high sales volume in the pre-selling market, Colliers sees condominium prices rising further over the next twelve months. This results in lower residential yields for projects across major CBDs. We see Makati CBD prices increasing by about 14% in the next twelve months while Fort Bonifacio and Rockwell prices will grow by about 8% to 10%.


*Kindly note that some of the data are from earlier years.
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