Special economic zones (SEZs) and gated communities both constitute ‘spaces of exception’, but have rarely been analysed together. As both processes have empirically converged in the form of mixed-use urban enclaves, I connect disparate literatures to understand the fragmented and exclusive nature of the Philippines’ economic development in general, and Metro Manila’s urbanization trajectory in particular. Based on grounded qualitative research, I explicate the rise of ‘spaces of exception 2.0’ that form globally connected but locally disembedded wealthy enclaves. I show how the integration of the Philippines into global capital flows, its historically grown ‘anti-developmental’ state, and the rise of a powerful real estate sector together have led to a proliferation of exclusive and exceptional spaces. The contemporary enclave spaces epitomize an urban and national development model of ‘exclusive development’, based on spatial processes of post-industrial capital accumulation in enclosed spaces, presenting a stark contrast with discourses on inclusive development.