Hong Kong is to open its "Eye"

Hong Kong will have its own gigantic ferris-wheel.

The government is encouraging entrepreneurs to build a "Hong Kong Eye," a massive observation-wheel similar to those operating in London and Singapore. The government requires that the Eye be at least 50 meters in diameter. It requires the tenderer to have at least 10 years of experience.

The Lands Department has posted a tender notice for a three year tenancy of a plot 9,620 square meters in area in front of Central piers 9 and 10 on Hong Kong Island. The observation wheel operator willset up and manage the facility for at least three years.

The closing date for submissions is at noon on December 14. The government says the construction period should take a minimum of 12 months, which means the Eye will open in Christmas of 2013.

The Eye can hold a maximum of 10,000 people a day and each ride would last 10 to 15 minutes, costing HK$100 per person.