When it comes to business addresses in the Philippines, the top of mind of every investor and business owner would most likely be Makati City. It has been 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, 400 Bank branches, and over 1,000 BPO offices. To date, 31% of Information Technology (I.T.) Buildings in Metro Manila are located in Makati. The city has also more than 60,000 establishments that include almost 4,000 banks and finance-related institutions. According to the 2021 Financial Report released by the Commission on Audit, Makati is the richest city in the country in terms of income from local sources and assets.
If you are interested to locate your business in Makati and want to be at the most prime spot, you should look nowhere else but in the street that started it all--Philippine's very own Wall Street--Ayala Avenue.
Quick History
Ayala Avenue used to be the primary runway for Nielsen Airport back in 1937 which specifically stretches from Gil Puyat corner to Makati Avenue. The airport ceased operations during World War II due to the Japanese occupation. After the war, it can no longer continue its operations and just completely transferred its facilities back to the owner of the land--Ayala y Compañia--now Ayala Corporation. In 1958, the runways were then converted into roads which turns to be the very first roads of what is now Makati Central Business District.
<<< Nielsen Airport under construction in 1937 (source: US National Archives)
How It Became Philippine's Wall Street?
After World War II and the entire country in ruins including its former center of business Manila, the Philippines needed a new place with better infrastructure and more growth potential to do business and boost the economy. This led to companies setting up in Makati where Ayala Avenue was ready to receive the first business locators in the city.
Eventually, major financial institutions flocked Ayala Avenue to set up their headquarters. These were major banks (BPI, Metrobank, RCBC, PBCOM), reputable audit and consultancy firms (SGV, Isla, Lipana & Co., Punongbayan & Araullo), and insurance companies (Insular Life, Manulife, Philamlife), to name a few. The Makati Stock Exchange also headquartered its first building at Ayala Avenue, and to this day, Ayala Land Offices maintains its facade to respect the historical significance of this landmark to the whole Makati CBD.
And as other big corporations followed suit and continued developments have been made, it then became to be known as what it is today, “The Wall Street of the Philippines”.
Now, as promised, here is a list of office buildings along Ayala Avenue.
OFFICE BUILDINGS ALONG AYALA AVENUE
1. RCBC Plaza