Derelict buildings in Metro Manila and why they are like that

If you look at the business districts of Makati, Taguig, Ortigas, and Cubao and see all these tall skyscrapers, you wouldn't think that the Philippines is a third world country. I've been to New York and although the buildings here can't compete with the grandeur of Midtown and Downtown Manhattan, it's pretty darn close. Okay, not really. What I'm saying is we've got some tall buildings here in the Philippines. 

One pinoy urban day, while walking along Dela Rosa Street in the Makati CBD, I chanced upon the Banco Filipino headquarters. A mini flashback happened of me, fresh from college, submitting a resume to this bank. I did not get a call-back and I eventually got a job with another bank a little ways down this road. Now here I am, 8 years later, taking a picture of this abandoned building that used to house a bank that rejected me.  

Here are some derelict buildings you can find in the business districts that are either eye-sores or iconic, depending on your outlook in life.

Banco Filipino Headquarters

101, Banco Filipino Building, Pase De Roxas Corner Dela Rosa Street, Legaspi Village, Makati, 1229 Metro Manila

The Banco Filipino Savings and Mortgage Bank was closed by the Bangko Sentral ng Pilipinas (BSP or Central Bank of the Philippines) in March 17, 2011 due to its liabilities exceeding its assets by Php 8.4 Billion (Wikipedia). 

If you know the famous/notorious BF Homes in Parañaque City, that's a property development by Banco Filipino. BF - Banco Filipino, get it? And according to this article by The Philippine Star, BF Homes also figured in to the 2015 case filed by the Department of Justice against the former officers of Banco Filipino.

It's not exactly the prettiest building out there and the bank is under receivership by the Philippine Deposit Insurance Corp, Inc. (PDIC) and so no one's using the building. I remember being made to enter through the back door that I swear looks like one of those holes inside battle ships in movies. It is an excellent location in the Makati CBD though. Speaking of excellent locations in the Makati CBD, there's another building on this list that has probably the best you can think of.

Coronet Theater

Coronet Theatre Building, Aurora Boulevard, Cubao, Quezon City

The senior people of the Philippines would attest that back in the day, Cubao was the premier go to place for Metro Manila. The Araneta Center nowadays is going through a massive modernization (read: lots of condominium buildings) but it will never achieve the grandeur it enjoyed before. The Coronet Theater is one of the rotting remnants of yesteryear.  

Of all the theaters within Araneta Center, only the New Frontier is still serving its purpose as it has been recently renovated into the Kia Theater. Everything else are now buildings used for something else. Here's a nice article by The Urban Roamer discussing what has happened with all these theaters. 

The Coronet theater is one of the more iconic ones in Cubao not just because of the movies shown within it. There used to be an ice cream parlor here that also happened to sell burgers. This little store would eventually become one of the largest fast food companies in the Philippines. The theater itself has been a victim of the times and did not enjoy the longevity of its tenant. 

InterContinental Manila

1 Ayala Avenue, Makati, Metro Manila, Philippines

Regarded for years as the premiere deluxe hotel in the country, InterCon finally closed late 2015. Located at the gateway of the Makati CBD and within the prime Ayala Center, you can't think of a better location for a building. I mean it's address is 1 Ayala Avenue for crying out loud!

manila.coconuts.co

The hotel was designed by National Artist Leandro Locsin who also designed the Mandarin Oriental Manila Hotel (recently demolished to make way for a new structure), NAIA Terminal 1, the Folk Arts Theater in the CCP, to name a few (Wikipedia).

The closure of InterCon is really just about the old making way for the new. The Ayala Land, Inc. (ALI) also unveiled their plans for the space which will include a "first-of-its-kind intermodal transport facility designed especially for the commuting public," - ALI via Rappler. Shows you that even if you're the best, age will still get the better of you. Totally made that quote up.

JAKA Tower

1226 Ayala Avenue, Makati, Philippines

JAKA Property Group is the Real Estate company of Sen. Juan Ponce Enrile. The JAKA tower was to be the company's first highrise building and was designed to be 49 stories tall, at that time would have been the tallest building in the Philippines (Wikipedia). 

However, the Asian Financial Crisis of 1997 happened and the construction was halted while already at the 21st floor (Wikipedia). It's right along the Ayala Avenue in near proximity to the RCBC Plaza, the GT Tower, the LKG tower, and the PBCom tower. It's a shame to see this shell of what could have been a great tower amidst these glitzy buildings. 

In 2012, the son of Senator Enrile (Jack Enrile) announced that the property will be sold signalling that his father has finally given up on his dream of a towering monument to himself. The building has often been referred to as "Chaka" building (Inquirer) and has always been considered as an eyesore. In 2014, ALI bought the property (Wikipedia) and plans to develop it into an office building and will make use of the current structure. It did disclose that it won't be as high as the original plan for the building though.  

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There you have it! Hope you enjoyed this list. I wanted to include the Philcomcem building here but it has already been demolished as of this writing. Got more derelict buildings you want to be discussed? Tell me all about it on the comments.

See you around!