used to be a military base known as Fort Bonifacio. The Bases and Conversion Development Authority (BCDA) privatized the property and its income from the sale was intended to be used for the modernization of the Armed Forces of the Philippines. Upon its privatization, the place was transformed into a business hub featuring numerous tourist attractions such as The Mind Museum, high-end shops, towering office skyscrapers, and luxurious lofts and condominiums. Bonifacio Global City will soon overtake the Makati Central Business District as the premier financial center of the country in the future. One of the reasons for it is that the Philippine Stock Exchange will relocate its headquarters in BGC. Also, it has more spaces and land for future developments. It is also the most active business district, generating over 50 percent of the growth in property market and has more available space for rent or lease and sale than Makati. Ortigas Center is a central business district located in Mandaluyong and Pasig, with a small portion of it located in Quezon City. Landmarks in Ortigas include the EDSA Shrine, Shangri-La Plaza and the SM Megamall. Furthermore, The Medical City has its main campus in Ortigas Center. Important financial and national institutions headquartered in Ortigas are the Asian Development Bank, Union Bank of The Philippines and the National Economic and Development Authority. Ortigas is also the home to the headquarters of San Miguel Corporation, Jollibee Foods Corporation, Lopez Group of Companies and The Manila Electric Company. Shopping Global Blue ranked Manila as one of the "Best Shopping Destinations" in Asia. Metro Manila is home to some of the largest shopping malls in the world, three of which are in the top 10. SM Megamall in Mandaluyong ranks as the 3rd largest shopping mall in the world, followed by SM City North EDSA in Quezon City bagging the 4th place. Meanwhile, SM Mall of Asia in Pasay ranks as the 9th largest shopping mall in the world. Other shopping malls in Metro Manila in the list of the largest shopping malls in Metro Manila are the Ever Gotesco Commonwealth Center, Festival Supermall, Greenbelt, Market! Market!, SM Aura Premier, SM Southmall and TriNoma. Tourism and gambling Tourism is a vital industry of the region. Metro Manila is the main gateway to the Philippines. Trade and tourism represent 31.4% of share of NCR's output by industry according to Brookings Institution. Metro Manila