Retail Construction Cost Planning: Makati City, Philippines

Makati City retail cost planning using the World Bank ICP 2021 national construction price-level index of 49.3, plus a GeoNames-based local comparable-search shortlist.

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Last updated September 15, 2026 · National screening observation from the [World Bank ICP 2021 API](https://api.worldbank.org/v2/sources/90/country/PHL/classification/PX.WL/series/1501200/time/YR2021/data?format=json) and [ICP data documentation](https://www.worldbank.org/en/programs/icp/data); locality and population from the [GeoNames PH dump](https://download.geonames.org/export/dump/PH.zip) (CC BY 4.0 snapshot 2026-08-26, GeoNames ID 1703417). The PLI is not a city cost/m² rate, current escalation series or tender estimate.

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Direct answer

For early retail construction cost planning in Makati City, the World Bank ICP reports a 2021 Philippines construction price-level index of 49.3, with the world equal to 100. This is a national comparison—not a Makati City PHP/m² rate or tender estimate—so replace it with current local evidence before budgeting or procurement. The observation covers construction across Philippines in 2021; it does not measure a Makati City market basket or current retail tenders. GeoNames 1703417 records the locality at 14.5503, 121.0327, with snapshot population 510,383. That ranks Makati City 19 of 50 listed places, while Mandaluyong is the nearest listed peer at about 3 km. Use these facts only to plan the comparable search. Obtain current local rates on a consistent area basis, then reconcile scope, taxes, fees, contingency and escalation. Retain the source, base date and reviewer when local evidence replaces the screening ratio.

Content and cited inputs reviewed by Scott Barrington, Harth founder and architectural technology specialist · Published 2026-08-26 · Updated 2026-09-15.

What does the 49.3 construction index mean?

The World Bank ICP 2021 construction PLI for Philippines is 49.3, compared with a world benchmark of 100. It is a national spatial price comparison assembled for the 2021 reference year. It does not say that retail work in Makati City costs 0.493 times a current world rate.

Which Makati City inputs are known?

The reproducible locality point is 14.5503, 121.0327 (GeoNames 1703417). Its snapshot population is 510,383, ranked 19 of 50 listed places; GeoNames classifies it as a second-order administrative seat in administrative area NCR. These facts shape the local comparable search, not the price.

What must a project estimate add?

For a Makati City retail project, reconcile shell condition, tenant fit-out, servicing, trading constraints and landlord works. Use a consistent gross-floor-area basis and record the following before reliance.

Estimate field	Screening record	Project requirement
National context	ICP 2021 PLI 49.3	Retain only as dated cross-country context
Local PHP/m² rate	Not supplied	Current comparable with named source and base date
Area and scope	Gross floor area; scope unresolved	Measurement standard, specification and procurement route
Additions	Not supplied	Taxes, fees, site work, contingency and escalation
Review	Automated source and arithmetic QA	Qualified local cost review

Makati City comparable-location search screen

This shortlist is computed from the checked GeoNames snapshot. Distance and population help prioritize where to request comparables; neither is used as a cost multiplier.

Listed place	Great-circle km from Makati City	Snapshot population	Admin area
Mandaluyong	3	425,000	NCR
Pasay	4	416,522	NCR
Mandaluyong City	4	465,902	NCR
Pasig City	5	853,050	NCR
Taguig	6	1,308,085	NCR
Lapu-Lapu City	568	497,813	07
Angeles City	82	483,452	03
Imus	17	481,949	40

Price-level normalization worksheet

For a validated reference rate R from a country with construction PLI P, the transparent screening calculation is R × (49.3 ÷ P). At P = 100 the dimensionless ratio is 0.493; no world cost rate is asserted. Keep the reference rate's currency, base date, area basis and scope attached.

Input	Recorded value	Release condition
Target national PLI	49.3 (World = 100, 2021)	Screening context only
Reference construction PLI P	User-supplied from the same ICP classification/year	Must match reference rate country
Validated reference rate R	User-supplied	Named source, currency, date, area and scope
Local Makati City adjustment	Not asserted	Replace with current local comparable evidence
Result status	Screening normalization	Not a budget, quote or tender estimate

Sources and method

National screening observation from the World Bank ICP 2021 API and ICP data documentation; locality and population from the GeoNames PH dump (CC BY 4.0 snapshot 2026-08-26, GeoNames ID 1703417). The PLI is not a city cost/m² rate, current escalation series or tender estimate.

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Frequently asked questions

Does the 49.3 index give a retail cost per m² for Makati City?

No. 49.3 is the World Bank ICP 2021 national construction price-level index for Philippines, with the world equal to 100. It is a cross-country screening statistic, not a Makati City PHP/m² rate, escalation index, quote or tender estimate.

How should a Makati City retail estimate replace this screening benchmark?

Collect current Makati City comparables on a consistent gross-floor-area basis, reconcile shell condition, tenant fit-out, servicing, trading constraints and landlord works, and state base date, currency, taxes, fees, site work, contingency and escalation. A qualified local cost professional should review the resulting project estimate.

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