An AED6bn (US$1.6bn) island development off the coast of Jumeirah Beach Residence, including what will be the world’s tallest Ferris wheel, has been approved by Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President and Prime Minister of the UAE and Ruler of Dubai.
The Bluewaters Island project will be one of the largest tourism hot spots in the world, according to the Dubai-based developers Meraas Holding.
Revealing the project on Wednesday, Meraas said the Dubai Eye would cost AED1bn and be the feature of the development.
Read more: http://www.arabianbusiness.com/dubai-ruler-unveils-1-6bn-island-project-489417.html
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