The plan was to reclaim 3,000 hectares of land in Manila Bay. The project was begun by Imelda Marcos in 1977, with the creation of the Public Estate Authority to manage the project. By the end of the Marcos rule in 1986, 660 hectares had been reclaimed.
The area is most well known for being home of the SM Mall of Asia, billed as the third largest mall in the Philippines and Entertainment City with casinos in Las Vegas-style, shopping malls, amusement parks, theaters, hotels, business offices, residential buildings and resorts. The project is under Philippine Amusement and Gaming Corporation (PAGCOR) owned by the Philippine government. Entertainment City will be Asia's Las Vegas-like gaming and entertainment complex that PAGCOR proposed to offer on 8km² of land on the reclamation area of Manila Bay, Philippines. It lies the western side of Roxas Boulevard and south of SM Mall of Asia Complex, part of Parañaque. Investments to the project can reach up to $15 billion, which is scaled down from the more recent $20 billion budget announcement that had been previously announced in 2007. All investments will come from private companies. The First Resort-casino complex to open in Entertainment City is Bloomberry-owned Solaire Resort & Casino on March 16, 2013, Other resort casino complex to rise are City of Dreams Manila (soft opening December 14, 2014), Manila Bay Resorts (opening 2015) and Resorts World Bayshore (opening 2018). Although the PEA advertises Bay City as the "new business capital" of Manila, development is proceeding slowly.