The Makati Intra-city Subway project, a US$3.5-billion initiative aimed at alleviating traffic congestion in Makati City, has been declared no longer feasible by its developer, Philippine Infradev Holdings Inc. This decision follows a Supreme Court ruling that transferred jurisdiction of several key areas from Makati to Taguig City, affecting the project's planned depot and stations.

In October 2018, the Makati City Government granted the public-private partnership (PPP) project to a consortium led by Infradev (formerly IRC Properties), with plans to execute it through a joint venture agreement (JVA). By December 2018, Infradev held a groundbreaking ceremony for the Makati Subway. In 2019, the consortium—comprising Infradev and its Chinese partners Greenland Holdings Group, Jiangsu Provincial Construction Group Co. Ltd., and China Harbour Engineering Company Ltd.—formally secured the PPP contract from the city government to carry out the subway project.

The US$3.5-billion Makati Subway System was initially designed to feature 10 underground stations at major locations, including Ayala Triangle, Makati City Hall, and the University of Makati. Key infrastructure components included a proposed depot in Barangay Cembo, a station at the University of Makati in West Rembo, and another at Ospital ng Makati in Pembo. The system was also intended to connect with existing and planned transport networks, such as the MRT-3, the Pasig River Ferry, and the proposed Metro Manila Mega Subway. Completion was originally targeted for 2025. The Makati Subway project was designed to alleviate traffic congestion in the city by offering an alternative mode of transport for up to 700,000 commuters daily and aimed to reduce vehicle volume in Makati by approximately 270,000.

Following the project's cancellation, Makati City Mayor Abby Binay announced that the city is in discussions with a new domestic partner to pursue an alternative intra-city railway project, which may take the form of a monorail or an above-ground system.