Opportunities, and ambitions – two words describing the motivation of every individual to work in any of the business districts in the Philippines. These commercial streets radiate the New York City vibes that most Gen Z and Millennials may have dreamed of. Also, with the NYC dream of many youngsters, these working-class or soon-to-be employees are attracted with places suitable for quick photoshoots which they could post online to recreate and enhance their Instagram feed. Thus, business districts do not only serve the employment needs of this generation but also the lavish lifestyle which most Filipinos have dreamed of.
In any case, business districts in the Philippines, also known as central business districts, are commercial areas where big companies established their operations and headquarters evidenced by the modern and tall business skyscrapers built in these areas. It is also the home of various local and multinational companies. With this, a wide variety of jobs are offered by these districts. The fast-paced lifestyle entailed by working in the corporate world made businessmen venture and expand their operations eventually contributing to the continuous growth of business districts in the Philippines.
Whether a business expert or not, it is general knowledge for potential investors or entrepreneurs that business location is the most important consideration for ventures. Hence, a business location is deemed ideal if it has a huge populace and good accessibility through different modes of transportation, at least. Moreover, the Philippines continuously develops and answers the needs of various business districts to make it ideal for local and foreign investments to help the economy thrive for the advantage of the Filipinos.
If you are an investor, entrepreneur, or even an employment seeker, this list of business districts in the Philippines would help you obtain an idea of where to find and acquire opportunities whether for financial needs or business success you have dreamed of.
The original and still unrivaled among the currently known commercial district in Metro Manila – Makati City’s Ayala Avenue. Also, it is considered the “Wall Street of the Philippines” as it is similar to the eight-block-long financial district of Lower Manhattan, New York City – Wall Street. It was acquired and owned by Ayala Corporation in 1948 after the second world war. Furthermore, it was part of Ayala Corporation’s plan to convert it into roads in preparation for a business district after the Japanese occupation.
The city is known for its Ayala Center composed of various shopping centers like Glorietta, Rustan’s, and Greenbelt. Also, one of the tallest buildings in the Philippines is located on this avenue – PBCom Tower. Of course, it will not be called “Wall Street of the Philippines” without the trading floor of the local stock exchange which the Wall Street of New York is known for. The area is not just established to mimic the façade of New York City but to cater to business-minded individuals and entities for a successful venture and to contribute to the local economy’s success.
From being a hacienda to hosting the successful EDSA revolution against the 20-year dictatorship to becoming the second-known business district in the Philippines – Ortigas Center. Before it became an area of commerce, it was once a hacienda. Through the partnership of Francisco Ortigas, Vicente Madrigal, B.C.M. Johnston, Fulgencio Borromeo, Clyde A. Dewitt, and Manuel L. Quezon, the acquisition and development of this parcel of land became possible. It was turned into an urban center in which it is still continuously developed to enhance its accessibility and provide alternatives for business venturers which is beneficial for the employment needs of the Filipinos as well.
A quick trivia; in 1965 is the decision of the Asian Development Bank to establish its headquarters in the Philippines, particularly in Ortigas Center. It has beaten the famous developed business districts of other Asian countries such as Singapore, and Japan’s Tokyo Metropolis thus evidencing the fitness of the area as a commercial district. Currently, it houses major companies like San Miguel Corporation, Meralco, Jollibee Foods Corporation, and some international companies like Maersk.
Moreover, Ortigas center is claimed to be the midpoint of Metro Manila hence it is strategically an ideal location for business. Presently, buildings and infrastructures are continuously developed in the district to continue the Metro Manila’s urban revolution. In fact, new transportation roads and systems are said to be housed by the business district which includes the Bonifacio Global City-Ortigas Center Link Road Project and Metro Manila Subway System.
Bonifacio Global City (BGC)
Lavish, luxurious, and extravagant are among the attributes glued when the term BGC is uttered by the younger generation. It is indisputably a contender for overtaking Makati as the best premium office-space market in Metro Manila. The city houses a vast number of business process outsourcing firms (BPO) and international companies like JP Morgan Chase & Co. and Deutsche Knowledge Services. With this, the city is establishing its name to be the hub of knowledge process outsourcing (KPO) due to the nature of services of the companies that establishes their headquarters in the area.
This growth is possibly brought by the low rental fees compared to known business districts such as Makati and Ortigas Center. In the 2016 report of Business Mirror, BGC has a flat rental rate of PHP 881.7 per square meter while Makati’s average rental rate amounts to PHP 1004.7 per square meter. With the continuous establishment of local and international firms in these areas, capital values continuously increase because of the world-class amenities and environment, and employment opportunities offered in BGC.
Other Business Districts Outside Metro Manila
The Philippines, being an archipelago, made the business metropolis of the country inaccessible for people in Visayas and Mindanao. The famous real estate corporations in the country continuously contribute to the increase of business districts in the Philippines not only for the company’s profits but to provide equitable employment opportunities to every part of the nation.
Since Metro Manila has low accessibility for the populace of Visayas, Cebu City became its replacement and the business stronghold for this region. Furthermore, in Mindanao, Davao City became the counterpart of Metro Manila in the region. Despite both cities being located in different regions, these cities grew similar to the way of BGC, which is through KPO and foreign investments.
These areas are ideal for urbanization because of their accessibility on the basic needs of the people like top educational institutions and shopping malls. The opportunities given by such districts surely convince the majority of the populace to target working or venturing in such commercial areas.
Although for some, it may be hard in the long run as commuting is exhausting on the part of employees especially those who do not have residential homes near the area. Worry no more, Bria Homes here for you. It has developed every residential type for your needs whether condominiums or house and lot. Financing is made easier through bank or Pag-IBIG Housing loans.
Bria Homes does not only cater to your housing needs. It considers every aspect of your life and wants to give convenience to its potential owners especially establishing real properties near business areas which includes Laguna, Cavite, Cebu, and Davao. In fact, it also developed a community center, known as Sentro, as it acknowledges the socialization and relaxation needs of its owners consistent to its vision of developing a home with a pleasant community and environment.
The Central Business Districts (CBDs) in the Philippines are the strongholds of the Philippine economy. The country heavily relies on outsourcing firms for resolving employment problems in the country. For majority, the lavish vibes and “instagrammable“ areas of these business districts are not just for social media clout but symbols of individual success and comfortable living which every Filipino wishes for. Hence, the CBDs in the Philippines is continuously enhanced for greater accessibility and better opportunities for the welfare of Filipinos.
Written by Steven Hernandez