Exciting years ahead for the Philippines’ foremost business city and financial capital.
Makati is arguably the Philippines’ most talked-about and progressive city, and it seems like the talks will not be dying down anytime soon, when future developments are continually projected that predestine Makati for even brighter years ahead. We say this boldly, why? Read on and let us enumerate Makati’s development highlights five years back as we also evaluate what lies five years ahead.
Five Years Ago to Present
Makati has been continually raking in numerous awards in different sectors, especially so in its competitiveness as a city, with its business district being the Philippines’ unsurpassed financial capital.
However, it is not only in the business and financial sector that Makati does really well. In 2012, the city’s healthcare system has made noticeable growth as well. Its citywide healthcare program that gives its residents a hundred percent membership in PhilHealth ensured accessible health services even for those who previously could not afford it. What was then a third world healthcare system has soared into something worthy of a “Best Practices” Award from Dubai International. The city now prides itself for spending more on health services (which include discount on laboratory tests and medicines) than any other city in the Philippines.
On another note, 2012 was also a golden year for Makati’s property market, as this was the same year when the real estate corporation Megaworld launched its tallest and one of the most luxurious skyscrapers in the exciting Salcedo Village—Three Central.
Towering at 51 stories, the condominium is to add Php4.2 billion worth of inventory to Makati’s already vigorous residential property market. It was launched to offer 672 pre-furnished units and had a rather high demand upon its debut. Sixteen penthouse units were initially sold separately but were eventually customized into five units with separate elevators for each. The cherry on top is its hotel-inspired kitchen area with various culinary stations for your pastry, sushi, kebab, and pasta favorites.
The following year, 2013, was also deemed a great year for the Philippine property market as a whole, and Makati’s real estate in particular. High local economic growth, record capital value increase of real estate, and a buoyant condo rental market characterized Makati’s property sector in 2013, which was indicative of bountiful years ahead.
2015 and beyond
As Metro Manila continues to get heavily populated, more areas outside Makati are getting much-needed development and facelift. Commerce, banking, and business are no longer as concentrated in the city as they were previously, but this does not mean that Makati will soon be eclipsed. In fact, two major infrastructure projects are currently in the works in the city to make it more progressive and competitive as ever.
The first is the Php1.27 billion Gil Puyat–Makati Avenue–Paseo de Roxas underpass, which is a four-lane, 880-meter-long underpass that will allow vehicles to traverse Gil Puyat Avenue between Makati Avenue and Paseo de Roxas uninterrupted. When completed, traffic along this major Makati thoroughfare will be eased significantly. The second and more massive project is Stage 3 of the Metro Manila Skyway. When completed, this elevated expressway (with access ramps in Magallanes, Don Bosco, Amorsolo, and Buendia in Makati) is expected to lessen travel time between Buendia Avenue and Balintawak in Quezon City to about 20 minutes.
Makati section of the Metro Manila Skyway. Photo by RioHondo via Wikimedia Commons
Another milestone set to happen in the next five years in Makati is the successive rise of various game-changing Megaworld projects in the finest locations of the city.
Greenbelt Hamilton Tower 2 is a set to become one of Legaspi Village’s best-designed condo projects. Rising 32 stories, this development is situated close to the Greenbelt area and Ayala Avenue, but still maintains a secluded vibe that’s great for homeowners who do not mind a bit of peace and quiet. This development is scheduled for completion in October 2019.
Artist’s impression of Greenbelt Hamilton Tower 2
Three Central is an impressive 51-story high-rise and one of Megaworld’s premier “Central” projects in Salcedo Village. Soon to become one of Makati’s design marvels, Three Central’s modern sleek design and a façade rendered in light blue glass epitomize Hong Kong’s iconic International Finance Center.
Three Central also won the Best Residential Interior Design Award at the 2015 Philippines Property Awards in July 2015. With the collaboration of different market leaders to form the best interior design for this masterpiece, one of which includes the highly acclaimed Wilson Associates (designers of royal palaces, Michelin-star restaurants, five-star hotels and now, including Megaworld’s very own Three Central), Three Central will be competing at the South East Asia Property Awards to represent the Philippines in this category this coming October 2015. This project is scheduled for completion in December 2017.
Artist’s impression of Three Central
Situated in the corner of Leviste and San Agustin Streets in Salcedo Village, 30-story Paseo Heights offers would-be residents park-side-living-themed lifestyle just a few steps away from the area’s best restaurants and Makati’s gleaming corporate towers. This condo is scheduled for completion in October 2019.
Artist’s impression of Paseo Heights
Megaworld Corp. is one of the Philippines’ largest property developers. It has an unprecedented track record of completing more than 250 residential buildings, office towers, commercial centers, and world-class hotels since 1994. The company began pursuing priority projects in Makati City, building high-rise condominium towers starting in both Legaspi and Salcedo Villages, now expanding to the other areas located minutes away from the central business district.
