Boracay Convention Center plenaries in the function rooms. The Boracay Convention Center is part of the 79.21-hectare eco-village land in Boracay Island, which the Ayala group owned until June 2003. In 2005 alone, Boracay Property Holdings Inc., has so far invested $6 million or about P336 million to put up the world-class hotel and facilities in the area. Philippine Department of Trade and Industry Secretary Cesar A. V. Purisima had endorsed the conversion of the eco-village project, into a Tourism Economic Zone (TEZ) to President Gloria Macapagal Arroyo, who issued the presidential proclamation. The Trade department noted the rise in tourist bookings in
Boracay group led by Andrew Tan had earmarked PHP20 billion to develop tourism estates "featuring an integrated, master-planned layout and world-class resort offerings and amenities" in Boracay and Cavite. The planned Boracay project, Boracay Newcoast, involves four hotels with 1,500 rooms, a plaza and an entertainment center. Other resorts in Borocay include Discovery Shores, a luxury five-star resort managed by a Filipino hospitality group called The Discovery Leisure Company Inc. and owned by Discovery World Corp. The building, with 88 suites, a spa, and four restaurants and bars, stands at Station One on the White Beach, and has been described as