Egypt's capital Cairo will be home to the African continent's tallest ferris wheel, it was announced on Monday.

The foundation stone for the 120-metre tall Cairo Eye was laid by Minister of Tourism and Antiquities Khaled al-Anani and Cairo Governor Khaled Abdel Aal, the project's developer Hawai for Tourism and Investment said in a press statement.

It said the ferris wheel, located in El Masalah Garden, would start operations in 2022, and offer a panoramic view of the city and Egypt's landmarks.

Cairo Eye, the statement continued, would be built on an area of 20,000 square metres at a total investment of 500 million Egyptian dirhams ($31.8 million).

The wheel would feature 48 cabins with a capacity of eight passengers per cabin, the statement noted.

The press conference announcing the project was also attended by the Presidential Advisor for Urban Planning Major General Amir Sayed Ahmed and Abd el Rahman Saeed, Head of the technical secretariat for disposal of state property.

"Cairo Eye will play a strategic role in sustainable tourism development, in line with Egypt's vision 2030," said Khaled Abdel Aal, Cairo Governor. "The project complements the efforts underway to reshape and upgrade the Capital; including Ahl Misr Walkway project, which is currently being constructed on the Nile Corniche in Cairo, as well as other development projects."

Ahmed Metwally, Chairman of Hawai for Tourism and Investment said the project would target 2.5 million visitors annually and create 1,200 direct and 4,000 indirect employment opportunities.

Profilerz is the design consultant and AVA Creative Solutions is the general consultant. A-Plus Management & Consultation is providing management services for the project, according to its twitter account.

The 250-metre tall Ain Dubai, under construction in Dubai for the World Expo, is slated to be the world's highest observatory wheel once complete.

(Writing by Syed Ameen Kader; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021