Trivia about the Financial District of the Philippines

Financial District of the Philippines

In the pre-Spanish era, Makati was ruled by Lakan Tagkan. lt was predominated by swamps and cogon grass overlooking the banks of Pasig River. Don Miguel Lopez de Legaspi, first Governor-General of the Philippines spotted the area. When Legaspi asked the name of the place, the natives misinterpreted his query because of language barrier. They pointed to the receding tide of the Pasig River and answered, “Makati na, kumakati na,” meaning ebbing tide.

On June 11 , 1901 Philippine Commission Act No. ‘137 was passed incorporating San Pedro Makati into the Province of Rizal.

ln 1608, San Pedro Makati or SAMPIRO was eaming from the sale of pottery. lt was its major industry. On February 28, 1914, Philippine Legislature passed Act 2390 shortening its name of San Pedro Makati to MAKATI.

Neilson Tower, the first airport of Manila was opened in 1937. Makati Commercial Center was put up in 1956.

On February 27,1986, Jejomar C. Binay was appointed Officer-in-Charge by President Corazon Aquino. ln 1988, he was elected as Mayor and re-elected twice. The skyline enjoyed more infrastructure such as Pamantasan Ng Makati, Makati Coliseum, Ospital Ng Makati, Health Centers, Barangay Halls, and Makati Park & Garden. Most recently the new 22-storey City Hall. Low-cost housing projects are constantly being constructed.

On January 2, 1995, President Fidel V. Ramos signed Republic Act No. 7854 convefting Makati into a highly urbanized City.

The present Administration headed by Mayor Elenita S. Binay, M.D. succeeded her husband Jejomar C. Binay in 1998, after he served as Mayor for nine years. The latter who vigorously worked for the world-class stature of Makati was re-elected as Mayor in the 2001 elections.

Stamps featuring the Financial District of the Philippines

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