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Greenbelt is a whole city block consisting of five (so far) smaller malls called Greenbelt 1-5. Currently, and with quite a few exceptions, Greenbelt 1 is the oldest (e.g. oldest stores, theatres, grocery & eateries) but easily still a class A development. Greenbelt 3 houses posh shops, nice theatres, a food court / game center and restaurants / bars for the lunch and night crowd. Greenbelt 4 houses even posh-er shops, if there are such beasts. In the middle of it all, a mini-park and open air Catholic chapel with frequent and well attended Masses tie together the development.
Currently one of the better places to while away the daytime hours, the night crowd is fashionable and fresh, reinforcing the theory that Greenbelt 3 is still place to see and be seen. Definitely one of the sites to visit while in Manila.
Adjacent to Greenbelt are the New World Renaissance Hotel and the soon to rise Residences condominium. Furthermore, Greenbelt is connected via elevated covered walkways to Landmark Department Store, the Glorietta Malls (also a collection of once separate malls, a better place to shop), SM Department Store and one of manila's three elevated, electirfied rail, lines (MRT) at Ayala station. At only P12 to P15 to get to stations such as Taft at one end or North Avenue, Quezon City at the other, the MRT and its associated LRT (separate fare) are two of the great travel bargains of SE Asia, as they are often quicker and les stressful than a taxi. With these connected developments, you can enter Makati, shop to you (literally) drop and leave the city all without your feet ever touching the ground.