Hong Kong’s observation wheel is to reopen as part of a new AIA Vitality Park at Central Harbour Front. Rides will cost HK$20, whilst access to the park will be free of charge.
The wheel will be operated by the The Entertainment Corporation Limited for three years, after Swiss AEX’s tenancy expired in August.
The park will include a range of health and wellness-related events, attractions and activities, starting in 2018.
Michael Denmark, chief executive officer at TECL, hailed the company’s partnership with AIA: “Making Hong Kong’s spectacular Harbour Front and internationally-recognised skyline more accessible, and vital to everyone, is our common objective.”
See more: Hong Kong ferris wheel grinds to a halt as operator’s land license expires
Under a three-year short-term contract, the land – covering an area of 7,320 square metres – is leased at a rate of of HK$1.5 million per month. It was set to be returned to the government on October 31.
The deal took several months as the process was confidential, according to a press release from the companies: “We have been completely focused on executing the necessary arrangements needed in order to bring the business model together [to] ensure the project’s enduring success,” it read.
The attraction, which narrowly avoided demolition, remains closed owing to legal and licencing issues in the change of ownership. The opening date will be announced at a ceremony in the coming weeks.