MAKATI CITY ADVANTAGES
By all rights a techno-city, Makati is the most preferred location of investors. It is the country's undisputed financial center and commercial hub, being home to the headquarters of 40 percent of the top 1,000 multinational and local corporations. To date, it has a total of 62,878 establishments, which include 461 head offices of banks, 10 major IT companies, and 27 contact centers.
Superior Infrastructures
Makati's highly developed multi-modal transport infrastructure has made it the most centralized city in Metro Manila and the National Capital Region. The availability of various forms of public transportation, such as the Metro Rail Transit (MRT), jeepneys and buses, complemented by a road network that links the city to the rest of Metro Manila, ensures accessibility and convenience.
The city has the most developed telecommunications infrastructure in the country. With the presence of two major providers for land-based telephone services, the PLDT and Globe Telecom, Makati's teledensity far exceeds the national average.
Expat-friendly
As host to 54 embassies and 35 consulates, Makati has highly developed foreign transient support institutions. Likewise, it is home to the headquarters of international organizations like the World Health Organization, UNICEF, IFC, and UNDP.
World-class amenities
The presence of six five-star hotels, eight shopping malls, and 2,901 restaurants and bars in the city has strengthened its bid to become the “Urban Tourism Capital” of the Philippines. In fact, it was declared by President Gloria Macapagal-Arroyo as a “prime urban tourist destination” in 2002 as part of the “Visit Philippines” tourism campaign.
Local and foreign tourists flock to Makati commercial centers, such as Ayala Center and Rockwell Center, primarily because of convenience, accessibility, quality of stores, ambiance, and interior and exterior environment that match world-class standards.
Investors likewise find Makati a “home away from home”, given the high-end yet reasonably priced residential condominiums, villages, and apartments that abound in its midst.
Its restaurants offer all kinds of local and international cuisine that cater to varied preferences, while its night spots and daytime bars give a wide array of choices for those who wish to unwind after work, or simply relish the pleasures of nightlife, Makati-style.
Peace of Mind
The Makati police and fire departments have both been cited as the country's best units in 2004. At present, the city government is building a state-of-the-art police headquarters, patterned after that of the Los Angeles Police Department, near the Central Business District. It will form part of an Integrated Central Command Complex that will house all protective sectors, including the city's fire and rescue teams, and the Disaster Coordinating Council.
The City government also takes pride in having recently established the nation's first free-standing emergency care facility, the Acute Care Center (ACC) Ospital ng Makati in BEl-Air. It is staffed round-the-clock by a full complement of qualified doctors, nurses, and support personnel trained in responding to life-threatening illness or injury via the team approach.
The ACC gives crucial support to the major hospitals in the city, which include the Makati Medical Center and the Ospital ng Makati in Barangay Pembo.
Going the ‘extra mile'
The above-mentioned attributes of the city have won the confidence of leading multinational and local corporations, including big players in the IT industry like Microsoft, Oracle, and Hewlet-Packard.
But mindful of the needs of the working class as well, the city government has gone out of its way to promote programs that would benefit employees. One such initiative was the establishment of what are now popularly known as “jolly-jeeps” in strategic areas of the Central Business District. These are mobile canteens that provide affordable, yet clean and nutritious meals to ordinary employees of Makati-based companies.
And as the number of call center locators grew, the city government responded by allowing these jolly-jeeps to operate on a 24-hour basis for the benefit of call center employees and other night-shift workers in the city.
ICT-readiness
Makati is the top choice of IT locators because it has ICT-ready buildings that allow them to plug in and immediately start operations. To date, seven IT Zone buildings in the Central Business District have been proclaimed by PEZA, namely: Exportbank Plaza Building, G.T. Tower International, PBCom Tower, RCBC Plaza, The Enterprise Center, MSE Center, and Multinational Bancorporation Centre. These buildings all have double-fed electricity and managed power that ensure continuous operations, with most having their own additional backup power.
Ten more buildings are awaiting similar accreditation. These are 6750 Ayala Avenue Building, DPC Place Building, Solid House, and the Paseo Center IT Building.
IT Zone buildings allow the locator to take advantage of the following PEZA incentives.
Income tax holiday (ITH) or exemption from corporate income tax for four years, extendable up to a maximum of eight years.
After ITH period, the option to pay a special 5 percent tax on gross income in lieu of all national and local taxes.
Exemption from duties and taxes on imported capital equipment, spare parts, supplies, raw materials.
Domestic sales allowance equivalent to 30 percent of total sales.
Exemption from wharfage dues and export taxes, imposts and fees.
Permanent resident status of foreign investors and immediate family members.
Employment of foreign nationals.
Simplified import and export procedures
The presence of leading telephone companies (i.e., PLDT, Globe Telecom) provides value-added services to corporate locators. Broadband is available throughout the CBD.
Data security is easily addressed by a local community of cyber-security experts.
Business Friendly City Hall
To promote a more ‘business-friendly' environment, the city government has taken steps to streamline permits application and processing at City hall. Through its “Express Lane” service, processing time has been considerably reduced to a maximum of two hours.
Downloadable application forms for Business Permit, Individual Mayor's Permit, and Locational Clearance have also been made available through its official website, www.makati.gov.ph, for the convenience of investors.
By all rights a techno-city, Makati is the most preferred location of investors. It is the country's undisputed financial center and commercial hub, being home to the headquarters of 40 percent of the top 1,000 multinational and local corporations. To date, it has a total of 62,878 establishments, which include 461 head offices of banks, 10 major IT companies, and 27 contact centers.
Superior Infrastructures
Makati's highly developed multi-modal transport infrastructure has made it the most centralized city in Metro Manila and the National Capital Region. The availability of various forms of public transportation, such as the Metro Rail Transit (MRT), jeepneys and buses, complemented by a road network that links the city to the rest of Metro Manila, ensures accessibility and convenience.
The city has the most developed telecommunications infrastructure in the country. With the presence of two major providers for land-based telephone services, the PLDT and Globe Telecom, Makati's teledensity far exceeds the national average.
Expat-friendly
As host to 54 embassies and 35 consulates, Makati has highly developed foreign transient support institutions. Likewise, it is home to the headquarters of international organizations like the World Health Organization, UNICEF, IFC, and UNDP.
World-class amenities
The presence of six five-star hotels, eight shopping malls, and 2,901 restaurants and bars in the city has strengthened its bid to become the “Urban Tourism Capital” of the Philippines. In fact, it was declared by President Gloria Macapagal-Arroyo as a “prime urban tourist destination” in 2002 as part of the “Visit Philippines” tourism campaign.
Local and foreign tourists flock to Makati commercial centers, such as Ayala Center and Rockwell Center, primarily because of convenience, accessibility, quality of stores, ambiance, and interior and exterior environment that match world-class standards.
Investors likewise find Makati a “home away from home”, given the high-end yet reasonably priced residential condominiums, villages, and apartments that abound in its midst.
Its restaurants offer all kinds of local and international cuisine that cater to varied preferences, while its night spots and daytime bars give a wide array of choices for those who wish to unwind after work, or simply relish the pleasures of nightlife, Makati-style.
Peace of Mind
The Makati police and fire departments have both been cited as the country's best units in 2004. At present, the city government is building a state-of-the-art police headquarters, patterned after that of the Los Angeles Police Department, near the Central Business District. It will form part of an Integrated Central Command Complex that will house all protective sectors, including the city's fire and rescue teams, and the Disaster Coordinating Council.
The City government also takes pride in having recently established the nation's first free-standing emergency care facility, the Acute Care Center (ACC) Ospital ng Makati in BEl-Air. It is staffed round-the-clock by a full complement of qualified doctors, nurses, and support personnel trained in responding to life-threatening illness or injury via the team approach.
The ACC gives crucial support to the major hospitals in the city, which include the Makati Medical Center and the Ospital ng Makati in Barangay Pembo.
Going the ‘extra mile'
The above-mentioned attributes of the city have won the confidence of leading multinational and local corporations, including big players in the IT industry like Microsoft, Oracle, and Hewlet-Packard.
But mindful of the needs of the working class as well, the city government has gone out of its way to promote programs that would benefit employees. One such initiative was the establishment of what are now popularly known as “jolly-jeeps” in strategic areas of the Central Business District. These are mobile canteens that provide affordable, yet clean and nutritious meals to ordinary employees of Makati-based companies.
And as the number of call center locators grew, the city government responded by allowing these jolly-jeeps to operate on a 24-hour basis for the benefit of call center employees and other night-shift workers in the city.
ICT-readiness
Makati is the top choice of IT locators because it has ICT-ready buildings that allow them to plug in and immediately start operations. To date, seven IT Zone buildings in the Central Business District have been proclaimed by PEZA, namely: Exportbank Plaza Building, G.T. Tower International, PBCom Tower, RCBC Plaza, The Enterprise Center, MSE Center, and Multinational Bancorporation Centre. These buildings all have double-fed electricity and managed power that ensure continuous operations, with most having their own additional backup power.
Ten more buildings are awaiting similar accreditation. These are 6750 Ayala Avenue Building, DPC Place Building, Solid House, and the Paseo Center IT Building.
IT Zone buildings allow the locator to take advantage of the following PEZA incentives.
Income tax holiday (ITH) or exemption from corporate income tax for four years, extendable up to a maximum of eight years.
After ITH period, the option to pay a special 5 percent tax on gross income in lieu of all national and local taxes.
Exemption from duties and taxes on imported capital equipment, spare parts, supplies, raw materials.
Domestic sales allowance equivalent to 30 percent of total sales.
Exemption from wharfage dues and export taxes, imposts and fees.
Permanent resident status of foreign investors and immediate family members.
Employment of foreign nationals.
Simplified import and export procedures
The presence of leading telephone companies (i.e., PLDT, Globe Telecom) provides value-added services to corporate locators. Broadband is available throughout the CBD.
Data security is easily addressed by a local community of cyber-security experts.
Business Friendly City Hall
To promote a more ‘business-friendly' environment, the city government has taken steps to streamline permits application and processing at City hall. Through its “Express Lane” service, processing time has been considerably reduced to a maximum of two hours.
Downloadable application forms for Business Permit, Individual Mayor's Permit, and Locational Clearance have also been made available through its official website, www.makati.gov.ph, for the convenience of investors.
Cost of Living in Makati from Alfredo’s Blog site
(http://alfredo.palconit.com/cost-of-living-in-makati
Having stayed in Makati for over three years now I think I can make this post and give some personal advise based on my experience living in Makati. Some people say Makati is one of the most expensive cities in the country and I couldn’t help but agree. Even though prices of regular products on Shopping Malls and the bus and jeepney fares are basically the same in the rest of the Metropolis, Makati City is a little bit more expensive than the rest of Metro Manila.
Below are some important tips you should know if you want to stay, live, and work in Makati. Please be advised that the numbers are not accurate and should be treated as estimate. Bring extra cash if you can.
1. Place to live. Do you want to live in Makati? Do you want to stay in a Hotel for a few days in Makati, or live in a Hotel in Makati? Do you want to buy a house and lot in Makati? Do you want to buy a condominium in Makati? Do you want to rent a condominium or apartment in Makati?
Nowadays the cheapest way to stay in Makati is renting a bed space, which ranges from P1500 to P2500 a month. You get to stay with the rest of the people renting bed space, about 4 to 6 persons per room and the bathrooms, laundry area etc are shared by everybody. This is good for people earning the minimum monthly salary.
Next would be to stay in a studio type apartment which costs from P5000 to P8000 a month, depending with the type of apartment you’re living in and location. Some apartments have shared restrooms and some have their own individual comfort rooms. This is good for people who doesn’t want to share their rooms and want to have some privacy.
Next would be to stay in a condominium which costs from P9000 to P15000 or more, also depending if your are staying very near the Makati Business District. This is good for young professionals who can afford a better living condition and wants to have a more peaceful place to live.
Next is staying in a hotel for a few days. Some hotels cost an arm and a leg, specially those 5-star hotels like Manila Peninsula, but staying on a decent regular hotel would cost starting P1500 a day. Some might have Internet Access and it costs P100 to P200 an hour. These relatively cheap hotels are not bad for business people and tourist who only wish to stay for a few days in the City.
Now it’s staying in a hotel for several months. I have heard from some people that Shangri-La Makati costs about P500,000 or USD12000+ for every 3 months. If you are living the life of the rich and famous, why not take the best hotels in town?
Next would be to buy a condominium in Makati. The cheapest I’ve heard is P1.5 million and that is located 20 mins away from the City center. My sister told me that owning condominiums only lasts 100 years and that’s it. Anyway, having a condominium is actually good if you want to stay in the city and have the lowest rate (compared with hotels) in the long run, plus, you own the place.
Lastly, do you want to buy a house and lot in Makati City? You have to be filthy rich to buy a house here. A house and lot can cost as high as P38 million+++ and remember, house and lots in nearby provinces can only cost as low as P1.5 million. Still interested? Who knows, your next door neighbor could be the President.
2. Do you want to work in Makati? Do you want to work in a Call Center in Makati? Do you want to know how big is the salary working in Makati?
Living in Makati may cost higher than in nearby cities, but it doesn’t mean you have to live in Makati to work, you can always live elsewhere and work in Makati. The other reason why people come to Makati to work is because of the relatively better pay than other companies offer in other cities. Some people here can have a starting salary of P25,000 a month and the highest paid executive is rumored to earn as incredibly high as P1.5 million a month. No thats not per year, that’s per month!
Call Center agents here earn starting from P15000 a month to P20000, depending on the company and experience of course, newer outsourcing companies pay higher because they want experienced and low paid agents to move to their company. Pirating anyone?
Please don’t expect to earn a high salary when you start working in Makati. Some companies pay their people the minimum of P8000 a month and these employees prefer to live in the outskirts of the city like Laguna or Cavite because P8000 simply cannot pay the rent, food, and everything else.
Lesson, always look for the best companies and get the job you have always dreamed of!
3. Do you want to eat in Makati? Do you like to cook or eat outside? Do you like to eat on the sidestreets or to expensive restaurants?
Cooking your own food has always been the cheapest way to eat in Makati. A kilo of chicken costs around P150 per kilo, rice for P30 per kilo and Pork for P150 per kilo. On wet seasons, the prices can go up to P10 more. If you cook everyday you could spend around P3000 to P4000 month.
Do you like KFC or Jolibee or McDonalds? If you eat there everyday you will spend at least P9000 per month. If you are in a Call Center you only have P6000 left to spend or P200 a day.
If you prefer to eat on expensive restaurants, expect to spend at least a thousand per meal but enjoy the company of rich people who are probably spending much more than you.
Remember, as long as you have the money to spend, go enjoy your meal.
4. How about other expenses like Light, Intenet, Water? No one can live normally in Makati without Electricity and Water. If you are using regular appliances like TV, Ref, Lights, you are looking to spend at most P2500 per month on electric bills. Internet Access can cost as low as P1000 per month and P5000 per month if you want 2MB speed or more.
Makati is expensive right? Unless you are spending less than you earn, Makati is really expensive. It is really a matter of handling your money and spending it wisely.
(http://alfredo.palconit.com/cost-of-living-in-makati
Having stayed in Makati for over three years now I think I can make this post and give some personal advise based on my experience living in Makati. Some people say Makati is one of the most expensive cities in the country and I couldn’t help but agree. Even though prices of regular products on Shopping Malls and the bus and jeepney fares are basically the same in the rest of the Metropolis, Makati City is a little bit more expensive than the rest of Metro Manila.
Below are some important tips you should know if you want to stay, live, and work in Makati. Please be advised that the numbers are not accurate and should be treated as estimate. Bring extra cash if you can.
1. Place to live. Do you want to live in Makati? Do you want to stay in a Hotel for a few days in Makati, or live in a Hotel in Makati? Do you want to buy a house and lot in Makati? Do you want to buy a condominium in Makati? Do you want to rent a condominium or apartment in Makati?
Nowadays the cheapest way to stay in Makati is renting a bed space, which ranges from P1500 to P2500 a month. You get to stay with the rest of the people renting bed space, about 4 to 6 persons per room and the bathrooms, laundry area etc are shared by everybody. This is good for people earning the minimum monthly salary.
Next would be to stay in a studio type apartment which costs from P5000 to P8000 a month, depending with the type of apartment you’re living in and location. Some apartments have shared restrooms and some have their own individual comfort rooms. This is good for people who doesn’t want to share their rooms and want to have some privacy.
Next would be to stay in a condominium which costs from P9000 to P15000 or more, also depending if your are staying very near the Makati Business District. This is good for young professionals who can afford a better living condition and wants to have a more peaceful place to live.
Next is staying in a hotel for a few days. Some hotels cost an arm and a leg, specially those 5-star hotels like Manila Peninsula, but staying on a decent regular hotel would cost starting P1500 a day. Some might have Internet Access and it costs P100 to P200 an hour. These relatively cheap hotels are not bad for business people and tourist who only wish to stay for a few days in the City.
Now it’s staying in a hotel for several months. I have heard from some people that Shangri-La Makati costs about P500,000 or USD12000+ for every 3 months. If you are living the life of the rich and famous, why not take the best hotels in town?
Next would be to buy a condominium in Makati. The cheapest I’ve heard is P1.5 million and that is located 20 mins away from the City center. My sister told me that owning condominiums only lasts 100 years and that’s it. Anyway, having a condominium is actually good if you want to stay in the city and have the lowest rate (compared with hotels) in the long run, plus, you own the place.
Lastly, do you want to buy a house and lot in Makati City? You have to be filthy rich to buy a house here. A house and lot can cost as high as P38 million+++ and remember, house and lots in nearby provinces can only cost as low as P1.5 million. Still interested? Who knows, your next door neighbor could be the President.
2. Do you want to work in Makati? Do you want to work in a Call Center in Makati? Do you want to know how big is the salary working in Makati?
Living in Makati may cost higher than in nearby cities, but it doesn’t mean you have to live in Makati to work, you can always live elsewhere and work in Makati. The other reason why people come to Makati to work is because of the relatively better pay than other companies offer in other cities. Some people here can have a starting salary of P25,000 a month and the highest paid executive is rumored to earn as incredibly high as P1.5 million a month. No thats not per year, that’s per month!
Call Center agents here earn starting from P15000 a month to P20000, depending on the company and experience of course, newer outsourcing companies pay higher because they want experienced and low paid agents to move to their company. Pirating anyone?
Please don’t expect to earn a high salary when you start working in Makati. Some companies pay their people the minimum of P8000 a month and these employees prefer to live in the outskirts of the city like Laguna or Cavite because P8000 simply cannot pay the rent, food, and everything else.
Lesson, always look for the best companies and get the job you have always dreamed of!
3. Do you want to eat in Makati? Do you like to cook or eat outside? Do you like to eat on the sidestreets or to expensive restaurants?
Cooking your own food has always been the cheapest way to eat in Makati. A kilo of chicken costs around P150 per kilo, rice for P30 per kilo and Pork for P150 per kilo. On wet seasons, the prices can go up to P10 more. If you cook everyday you could spend around P3000 to P4000 month.
Do you like KFC or Jolibee or McDonalds? If you eat there everyday you will spend at least P9000 per month. If you are in a Call Center you only have P6000 left to spend or P200 a day.
If you prefer to eat on expensive restaurants, expect to spend at least a thousand per meal but enjoy the company of rich people who are probably spending much more than you.
Remember, as long as you have the money to spend, go enjoy your meal.
4. How about other expenses like Light, Intenet, Water? No one can live normally in Makati without Electricity and Water. If you are using regular appliances like TV, Ref, Lights, you are looking to spend at most P2500 per month on electric bills. Internet Access can cost as low as P1000 per month and P5000 per month if you want 2MB speed or more.
Makati is expensive right? Unless you are spending less than you earn, Makati is really expensive. It is really a matter of handling your money and spending it wisely.