Makati,
is one of the cities and municipalities that make up 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 referred 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 Metro Manila. Many expatriates live and work in the
city. Makati is also home to many first-class shopping malls,
which are located at Ayala Center and Rockwell Center. The
city also has many of the country's five-star hotels like
The Peninsula Manila, the Shangri-La Hotel Makati and the
Intercontinental Hotel Manila. 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 competitor 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.
The Central Business District (CBD) is where most of Makati's
financial resources are 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.
Source: Wikipedia
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