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, , and , Fade to Black.
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PROJECT NAME : DUBAI Observation Wheel, ?
HEIGHT: 183. meters or 600f with 30 Capsules
STAGE: PLANNED DEVELOPMENT
START DATE: SOON ?
END DATE: UNKNOWN
LOCATION: DUBAI ?
 

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Discussion Starter · #2 ·
World's biggest wheel for Dubai

http://www.ameinfo.com/57786.html

The tallest observation wheel in the world will be built in Dubai, after a deal between UAE-based Allied Investment House and Las Vegas-based Voyager Entertainment. The $150m, 600ft wheel will be 100% financed by AIH. It will have 30 orbiter capsules with a total capacity of 7.5m guests per year. The project also includes a restaurant and condominiums.
 

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Discussion Starter · #3 ·
Another Ferris wheel for UAE Crazy stuff still not that high really compared to others
Little taller than the london Eye I guess (135 m)
Could this project be taken from the one in AD ?
 

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LOL could not see that coming
I dont know it thought it was one title that Dubai "Meh dont matter as long as it ends up in the UAE" but seems like that not the case
 

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Discussion Starter · #7 ·
guess so its not a project yet ?
 

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21st century destination
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I had read about this one in concierge magazine before the abu-dhabi observation wheel was announced and i created a thread about it
 

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I think this is the same wheel...the first report of the observation wheel never said it would be in Abu Dhabi, just the UAE...also on Emirates flight the other day I saw a new promotional video for Palm Jumeirah...replacing the Pinnacle was a great big observation tower.......
 

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i am sorry, i love dubai and all, but this just isnt right, come on, its the same country, they cant be competing like this.....

i would love to see nice things in Abu Dhabi, Sharjah, Ajman and the other emirates as well,
 

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Discussion Starter · #14 ·
sure spread it around the UAE far better
 

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Construction Paradise
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not a good sign i'd say!



Big wheel developer is on brink of bankruptcy


A US firm planning to develop the world’s largest observation wheel in Dubai is on the brink of bankruptcy.

The holding group of Voyager Entertainment International, which unveiled plans to build a US $150 million, 182 m-tall wheel in Dubai earlier this week, has warned financial watchdogs it could become insolvent after amassing millions of dollars worth of debt.

In its quarterly submission to the US Securities and Exchange Commission, filed on November 23rd 2004, Voyager Entertainment Holdings (of which Voyager Entertainment International is a wholly-owned subsidiary), stated: “Over the next twelve months, we believe that existing capital and anticipated funds from operations will not be sufficient to sustain operations and planned development.

“In the event we are unsuccessful in generating equity capital, then the company will be unable to continue with product development and/or marketing. The lack of equity capital or other financing may in turn cause the company to become insolvent, and may cause the company to seek protection under the federal bankruptcy laws.”

In the same document, Voyager Entertainment Holdings also states: “We have yet to establish any history of profitable operations.”

In its latest filing to the Commission, lodged this week, Voyager Entertainment International announced it had signed a joint venture agreement with Allied Investment House (AIH), and had been working with the Abu Dhabi-based Bin Salem Group, a general trading company.

An employee from Bin Salem Group confirmed that the group was aware of the Big Wheel project, but offered no further comment.

A press release issued by the US firm at the same time as the filing, describes AIH as an investment banking group operating out of the UAE, but with offices in Washington DC, Los Angeles, Toronto and Hong Kong. John Heine, a spokesperson for the Washington-based Securities and Exchange Commission, said that the organisation had no record of the company on its files.

Neither had financial regulators in Hong Kong heard of AIH, which Voyager Entertainment International claims will provide all of the financing for the Dubai project.

Construction Week traced the company to a serviced office suite in Dubai’s Fairmont Hotel building, but nobody at the firm was available to talk.

Voyager Entertainment International has been linked to other Big Wheel projects in cities as far apart as Dallas and Shanghai — but none have so far made it off the drawing board.

The firm’s latest failed project was in Las Vegas, where it had planned to build yet another “World’s Tallest Observation Wheel.”

The company had been in talks with Rio All-Suite Hotel & Casino, but according to its quarterly filing, the pair “mutually agreed to discontinue negotiations” on 30th April 2004.

Richard Hannigan, president and chief executive officer of Voyager Entertainment Holdings was in Dubai this week, according to a spokesperson at the firm’s US headquarters.
Hannigan was unavailable for comment.
 
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