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
Real Madrid Resort Island Real Madrid Resort Island Real Madrid Resort Island was a proposed sports and amusement park planned by Real Madrid on Marjan Island, a artificial island near Ras al-Khaimah in the United Arab Emirates. The project had a projected budget of $US 1 billion. In June 2013, the project was stopped by the Ras Al Khaimah Investment Authority (RAKIA) due to a lack of funding, as the sheikdom was in the process of restructuring its debts. The plan for the project was first announced in March 2012. The island was supposed to feature sport training facilities, a 10,000-seat stadium facing the