Inside Makati CBD’s Office Rental Landscape: Rent and Lease Market Insights

Makati’s transformation into Metro Manila’s financial hub began between the late 1940s and early 1950s when the decommissioned Nielson Airport and its runway were converted into Ayala Avenue and Paseo de Roxas, key arteries of today’s Central Business District (CBD). This development gained momentum in the early 1960s under Ayala Land’s master-planning leadership, guided by visionaries like Col. Joseph McMicking. The inauguration of the Makati Stock Exchange in 1963 marked a pivotal moment in the district’s fiscal prominence. By the 1970s, the skyline evolved with mixed-use developments and early high-rise projects designed by distinguished architects, including Leandro V. Locsin.

Geographically, the Makati CBD is delineated by Amorsolo Street to the west, Arnaiz Avenue to the south, EDSA to the east, and Gil Puyat Avenue to the north. Within this perimeter, vibrant mixed-use enclaves such as Ayala Triangle Gardens, Salcedo Village, and Legazpi Village blend commercial and residential environments. The district’s prestige stems from strategic zoning and planning spearheaded by the Makati city government and Ayala Land, encouraging high-density commercial use and skyscraper development while preserving green spaces like Ayala Triangle to enhance urban livability.

Main Thoroughfares & Office Clusters

• Ayala Avenue is Makati’s most iconic axis, home to elite Class A towers such as The Enterprise Center, RCBC Plaza, and NEX Tower. It serves as the financial backbone of the district, anchored by multinational headquarters, major banks, and KPO firms. The adjoining Ayala Triangle Gardens further elevates its prestige.

• Paseo de Roxas forms the secondary premium office corridor and features landmark structures such as the pioneering LEED Platinum–certified Zuellig Building, which stands at the corner of Paseo de Roxas and Makati Avenue.

• Makati Avenue, lining the CBD’s western edge, may not rival Ayala Avenue in height but pulses with prestige and versatility. It is home to iconic luxury hotels such as The Peninsula Manila and Makati Shangri-La, which anchor its sophisticated character. The Zuellig Building, as mentioned earlier, is a LEED Platinum-certified, premium-grade office tower that commands attention at the corner of Makati Avenue and Paseo de Roxas. On this same intersection, Ayala Land’s upcoming Park Central Towers will bring modern residential elegance to the neighborhood. Just across Zuellig stands the new Ayala Triangle Gardens Tower 2, currently the most expensive office tower in the district. Another exciting development along Makati Avenue is the BDO Corporate Center, a futuristic twin-tower complex now under construction after the demolition of its heritage Locsin-designed headquarters in 2022. Scheduled for completion in 2028, it is expected to become the tallest steel structure in the country.

  
  

• Gil Puyat Avenue (Buendia) marks the northern edge of Makati’s CBD and offers a diverse range of office buildings, from older, modest Class B and C developments with fewer amenities to select Class A landmarks, providing more affordable options for tenants. Notable premium towers along this corridor include RCBC Plaza and Export Bank Plaza, exemplifying the mix of heritage and modern office spaces that define this stretch. An exciting addition is The Yuchengco Centre, a 27-story Class A development rising on the former Mapúa site. Spearheaded by House of Investments, a Yuchengco-led company, in partnership with Japanese conglomerate Sojitz, the tower is slated for completion in 2025. It is designed with world-class sustainability in mind, aiming for LEED and WELL pre-certifications, and will feature a highly efficient 4,000+ sqm floor plate, landscaped public areas, integrated retail, and a rooftop garden.

Special mention along Ayala Avenue is the newly developed One Ayala, a mixed-use complex that integrates a modern transit hub at the corner of Ayala Avenue and EDSA. It provides direct access to the MRT, P2P buses, UV Express, and city buses, creating a seamless, airport-style commuting experience within the CBD. The prestige of office spaces begins at the Ayala Triangle, which serves as the commercial core, and gradually tapers outward toward Salcedo and Legazpi Villages, where smaller and older Class B and C offices are located in quieter, mixed-use neighborhoods.

Rental Rates in Makati CBD

Rental prices in Makati CBD vary depending on building classification, location, accessibility, and overall performance, including occupancy rates. Key features that tenants typically look for include building age and condition, as newer properties tend to attract premium tenants; facilities and amenities such as parking, security, lobby design, and conference rooms; floor efficiency and layout, with open floor plates that maximize usable space; and sustainability features like energy-efficient lighting, waste management systems, and green building certifications.

Office Rental Rates in Makati CBD

The Makati Central Business District remains the premier commercial core of Metro Manila, offering a diverse range of office classifications—Class A, B, and C—each with distinct value propositions, amenities, and pricing.

Office Class	Estimated Rental Rate (PHP/sqm/month)
Class A / Premium	₱1,000 – ₱2,400
Class B / C	₱500 – ₱650

Class A / Premium Offices

Found along prime corridors like Ayala Avenue and Paseo de Roxas, these properties feature top-tier infrastructure, modern amenities (e.g., LEED certification, high-speed elevators, advanced security systems), and central HVAC. Rental rates typically range from ₱1,000 to ₱2,400 per square meter per month. For example, units in Alveo Financial Tower are currently listed at around ₱1,100/sqm.

Class B / C Offices

Typically located in quieter subzones such as Salcedo and Legazpi Villages, Class B and C offices are defined as smaller buildings with fewer amenities and, to some extent, more outdated designs. Rental rates generally range from ₱500 to ₱650 per square meter per month, depending on location, building condition, and occupancy rate. (Disclaimer: Rental rates are indicative as of August 2025 and are subject to change depending on market conditions and specific lease terms.)

Ayala Land remains the dominant force in Makati’s development, owning much of the land within the CBD. Its strategic master planning, infrastructure investments, and dedication to sustainable, integrated urban development have been instrumental in shaping Makati’s skyline and commercial landscape. Mooring this urban ecosystem are other influential players: Shangri-La, best known for the iconic Makati Shangri-La and The Enterprise Center along Ayala Avenue; RCBC Realty Corporation, developer behind RCBC Plaza; and Federal Land, the mastermind behind GT Tower International and ultra-luxury residential projects. Bolstering Makati’s financial heft are major institutions, BDO, BPI, Insular Life, AIA (headquartered at AIA Tower), and Metrobank, each maintaining flagship offices or investments within the district.

With a clear picture of Makati CBD’s rental landscape, the next step is finding a space that fits your budget and business needs. Whether you’re aiming for a premium address along Ayala Avenue or a cost-efficient office in Salcedo Village, the right location can elevate your company’s image and operations. If you’re looking for the perfect office in Makati’s prime business district, discover a range of premium and affordable spaces designed to meet your needs. Click the button below to explore available Makati CBD offices now.

Explore Opportunities at Makati's CBD

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