Makati cements premier financial hub status

The local government of Makati City cemented its status as the nation’s premier financial hub in 2025, collecting P15 billion in revenue by April and reaching 82 percent of its annual P19.33 billion target.

The midyear fiscal report highlights a surge in investor confidence and the success of digitized tax systems. Between January and May, the city registered nearly 2,000 new businesses, representing P28.25 billion in new capital investment.

Business taxes accounted for P8.73 billion of total collections, while real property taxes contributed P4.89 billion.

Despite the high collection rates, Mayor Nancy Binay’s administration implemented City Ordinance No. 2025-A-040, providing an across-the-board tax relief of up to 15 percent on real property taxes for land to ease the burden on residents.

Also, the Commission on Audit (CoA) issued Makati its eighth consecutive unmodified audit opinion for its financial statements, a streak recognized with the 2025 PhALGA Excellence Award.

The city continues to lead the country in locally generated revenues and per capita spending, according to the Department of Finance.

“Our financial stability allows us to invest directly back into our greatest asset — the people of Makati,” Binay said. This year, the city also granted permanent status to 1,695 employees to ensure workforce stability.

The city’s governance was further recognized by the Department of the Interior and Local Government, which ranked Makati first in the Regional Local Legislative Awards with a near-perfect score of 99.50.