Mallgoers questioned the apparent lack of security within the sprawling Ayala-owned mall complex.
Rowena Bito-on, 37, noted that the brazen robbery occurred just a day before the second anniversary of the deadly explosion that rocked Glorietta 2.
The explosion, which the mall owners claimed was caused by the methane gas that accidentally leaked from the building's sewage system, left 11 people dead and over 100 others injured.
"After the explosion in Glorietta, we thought the mall administrators and the local police beefed up the security here. But it looked like nothing much was improved," Bito-on, a bank employee from Pasay City, said.
The robbery affected the operations of a number of restaurants and shops in Greenbelt-5 and adjoining shopping areas.
Watchmen interviewed by the Philippine Daily Inquirer said they noticed a significant drop in the number of people entering other Greenbelt malls.
Roel Tongol, manager of the posh restaurant Felix in Greenbelt-5, said they lost at least P150,000 in expected revenues because of the firefight.
Tongol said the 12 customers who were dining at the 150-seater restaurant at the time of the shooting decided to leave at once.
"Our place is usually full during lunchtime especially because Sunday is family day here. You could just imagine our losses," he lamented.
A number of foreign tourists who either witnessed or was told of the robbery said they were dismayed by what happened.
"It (the robbery) was really shocking considering that Makati is the center of commerce in the Philippines," said an Australian tourist who declined to be identified.
"I think the government should be more circumspect in assigning security people in this place," he added.
"The police must see to it that the whole place is secure. As frequent visitors of this area, we would probably think twice going here at night after what happened today," his female companion said.