The
City of Makati, or simply
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 Mandarin Oriental, the Shangri-La Hotel Makati, Renaissance Hotel, Intercontinental Hotel Manila, and Dusit Hotel Nikkō. 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 competitior 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.
Seal of Makati City
The official seal of Makati City depicts a silhouette of the territory of Makati. At the bottom is the Pasig River, located on the northern border of the city. The Guadalupe Church stands on the river and is the oldest church in Makati—a reference to Spanish influence. Behind the church rises the skyscrapers for which Makati City is well-known. Behind the skyscrapers are 33 rays representing the barangays of Makati.
History
Originally founded in 1670 as a visita of Sta. Ana de Sapa under the jurisdiction of the Franciscans, Makati City was first dismissed as "worthless" swamp land by the Spanish conquistador Juan Miguel de Legazpi in 1571.
Yet over the centuries, this small community would leave large imprints in social, economic and cultural history. The friars established two of the earliest churches in the Philippines - the Nuestra Señora de Gracia in Guadalupe and the Church of Sts. Peter and Paul - in Makati, drawing pilgrims from all over the country.
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