The Singapore Flyer is a giant Ferris wheel in Singapore that was constructed between 2005 and 2008. Described by its operators as an observation wheel, it reaches 42 stories high, with a total height of 165 m (541 ft), making it the tallest Ferris wheel in the world, 5 m (16 ft) taller than the Star of Nanchang and 30 m (98 ft) taller than the London Eye.
Situated on the southeast tip of the Marina Centre reclaimed land, it comprises a 150 m (492 ft) diameter wheel, built over a three-story terminal building which houses shops, bars and restaurants, and offers broad views of the city centre and beyond to about 45 km (28 mi), including the Indonesian islands of Batam and Bintan, as well as Johor, Malaysia.
The final capsule was installed on 2 October 2007, the wheel started rotating on 11 February 2008 and it officially opened to the public on 1 March 2008. Tickets for rides on the first 3 nights were sold out for S$8,888 (US$6,271), an auspicious number in Chinese culture. The grand opening for the Flyer was held on 15 April 2008.
Each of the 28 air-conditioned capsules is capable of holding 28 passengers, and a complete rotation of the wheel takes about 30 minutes. Initially rotating in a counter-clockwise direction when viewed from Marina Centre, its direction was changed on 4 August 2008 under the advice of Feng shui masters.
The Singapore Flyer is located near the shore of Singapore's Marina Bay, in an area of Marina Centre known as Marina Promenade.
The Flyer affords great views of the Marina Bay Street Circuit of the Singapore Grand Prix as it is located beside the straight between turns 21 and 22, and near the pit area.
The Singapore Flyer was first conceived in the early 2000s by Patrick MacMahon of Melchers Project Management, a subsidiary of German company Melchers. Formal planning commenced in 2002. A new company, Singapore Flyer Pte Ltd, was formed as the developer, with Melchers Project Management holding a 75% stake, and the remainder held by Orient & Pacific Management.
The project was formally announced and endorsed on 27 June 2003 by the Singapore Tourism Board with the signing of a memorandum of understanding, formalising the understanding between the developer and tourism board with regard to the land-acquisition process. Under this agreement, the tourism board was to purchase the plot of land in Marina Centre from the Singapore Land Authority, and lease it to Singapore Flyer Pte Ltd for 30 years with an option to extend the lease by another 15 years. The land was to be rent-free during the construction phase of the project. In July 2003, Jones Lang LaSalle was appointed as the real estate advisor. Takenaka and Mitsubishi were selected as the main contractors, and Arup as the structural engineer.
Early designs showed a 169 m (554 ft) tall wheel similar to the London Eye, drawing criticism that it lacked originality. The developers pointed out that the design was not finalised and was merely for conceptualisation purposes, though the final project changed little from the early designs. Subsequently, the project was to grind almost to a halt when the developer faced difficulties in sourcing funds to build the wheel. Original plans to complete the wheel by the end of 2005 were thus postponed indefinitely, and there were reports (denied by the Singapore Tourism Board) that the tourism board has set an ultimatum date of 31 March 2005 for the developer to iron out its financial issues and to keep the development going.
By September 2005, the project was revived when funds were successfully sourced from two German banks. Collin William Page, a subsidiary of ABN AMRO, was to provide equity to a maximum of S$100 million, with a further S$140 million coming from HypoVereinsbank. With this injection of S$240 million, the largest single foreign investment in the Singaporean entertainment industry, construction was slated to begin by the end of the month. The stakeholders then were AAA Equity Holdings, Melchers Project Management, and Orient & Pacific Management.
In August 2007, Florian Bollen, Singapore Flyer Pte Ltd chairman, raised his stake in the Singapore Flyer from 60% to 90% through acquisition of Melchers Project Management's 30% stake. The deal was done via AAA Equity Holdings, a private investment vehicle headed by Bollen. Orient & Pacific Management, which spearheaded the project development management, owns the remaining 10%.
In March 2010, Great Wheel Corporation, a consultant for the Singapore Flyer, was one of several companies named in a report alleging embezzlement, lodged with the prosecutor's office in Berlin, Germany. Transfers of €3 million to companies in the Virgin Islands and UK, and monthly payments of €40,000 from the Berlin wheel's project company, Great Berlin Wheel, to its linked company Great Wheel in Singapore, are questioned.
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Situated on the southeast tip of the Marina Centre reclaimed land, it comprises a 150 m (492 ft) diameter wheel, built over a three-story terminal building which houses shops, bars and restaurants, and offers broad views of the city centre and beyond to about 45 km (28 mi), including the Indonesian islands of Batam and Bintan, as well as Johor, Malaysia.
The final capsule was installed on 2 October 2007, the wheel started rotating on 11 February 2008 and it officially opened to the public on 1 March 2008. Tickets for rides on the first 3 nights were sold out for S$8,888 (US$6,271), an auspicious number in Chinese culture. The grand opening for the Flyer was held on 15 April 2008.
Each of the 28 air-conditioned capsules is capable of holding 28 passengers, and a complete rotation of the wheel takes about 30 minutes. Initially rotating in a counter-clockwise direction when viewed from Marina Centre, its direction was changed on 4 August 2008 under the advice of Feng shui masters.
The Singapore Flyer is located near the shore of Singapore's Marina Bay, in an area of Marina Centre known as Marina Promenade.
The Flyer affords great views of the Marina Bay Street Circuit of the Singapore Grand Prix as it is located beside the straight between turns 21 and 22, and near the pit area.
The Singapore Flyer was first conceived in the early 2000s by Patrick MacMahon of Melchers Project Management, a subsidiary of German company Melchers. Formal planning commenced in 2002. A new company, Singapore Flyer Pte Ltd, was formed as the developer, with Melchers Project Management holding a 75% stake, and the remainder held by Orient & Pacific Management.
The project was formally announced and endorsed on 27 June 2003 by the Singapore Tourism Board with the signing of a memorandum of understanding, formalising the understanding between the developer and tourism board with regard to the land-acquisition process. Under this agreement, the tourism board was to purchase the plot of land in Marina Centre from the Singapore Land Authority, and lease it to Singapore Flyer Pte Ltd for 30 years with an option to extend the lease by another 15 years. The land was to be rent-free during the construction phase of the project. In July 2003, Jones Lang LaSalle was appointed as the real estate advisor. Takenaka and Mitsubishi were selected as the main contractors, and Arup as the structural engineer.
Early designs showed a 169 m (554 ft) tall wheel similar to the London Eye, drawing criticism that it lacked originality. The developers pointed out that the design was not finalised and was merely for conceptualisation purposes, though the final project changed little from the early designs. Subsequently, the project was to grind almost to a halt when the developer faced difficulties in sourcing funds to build the wheel. Original plans to complete the wheel by the end of 2005 were thus postponed indefinitely, and there were reports (denied by the Singapore Tourism Board) that the tourism board has set an ultimatum date of 31 March 2005 for the developer to iron out its financial issues and to keep the development going.
By September 2005, the project was revived when funds were successfully sourced from two German banks. Collin William Page, a subsidiary of ABN AMRO, was to provide equity to a maximum of S$100 million, with a further S$140 million coming from HypoVereinsbank. With this injection of S$240 million, the largest single foreign investment in the Singaporean entertainment industry, construction was slated to begin by the end of the month. The stakeholders then were AAA Equity Holdings, Melchers Project Management, and Orient & Pacific Management.
In August 2007, Florian Bollen, Singapore Flyer Pte Ltd chairman, raised his stake in the Singapore Flyer from 60% to 90% through acquisition of Melchers Project Management's 30% stake. The deal was done via AAA Equity Holdings, a private investment vehicle headed by Bollen. Orient & Pacific Management, which spearheaded the project development management, owns the remaining 10%.
In March 2010, Great Wheel Corporation, a consultant for the Singapore Flyer, was one of several companies named in a report alleging embezzlement, lodged with the prosecutor's office in Berlin, Germany. Transfers of €3 million to companies in the Virgin Islands and UK, and monthly payments of €40,000 from the Berlin wheel's project company, Great Berlin Wheel, to its linked company Great Wheel in Singapore, are questioned.
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