|Location||Jumeirah Beach Residence coastline, near Dubai Marina|
|Construction started||April 2013|
|Estimated completion||Q1 2018|
|Cost||AED 6 billion|
The project was approved by Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and unveiled on February 13, 2013. It will be built on reclaimed land by Meraas Holding, with dredging work to be conducted by Van Oord, the Dutch firm known for its work on Palm Jumeirah, and will cost AED 6 billion (1.6 billion USD, including the Dubai Eye). Construction was originally due to start in April 2013, but actually began on May 20, 2013.
With a dedicated driver less transport system, ‘you don’t need a car to live on the island’. The island is featuring two five-star hotels with direct beach access. Bluewaters is also going to have around 200 beverage and retail and food outlets in the ground level of residential buildings and entertainment section of the island.
Bluewaters Island will feature the AED 1 billion ($270m) Dubai Eye, a 210-metre (689 ft) tall giant Ferris wheel. If completed, it will be taller than the current world's tallest Ferris wheel, the 167.6 m (550 ft) High Roller, which opened in Las Vegas in March 2014, and 19.5 m (64 ft) taller than the 190.5 m (625 ft) New York Wheel planned for Staten Island.
Design and construction are to be undertaken by Hyundai Contracting and Starneth Engineering. Construction was originally due to begin in June 2013, but did not actually start until May 2015. Completion was originally expected to be sometime during 2015.
The wheel will be able to carry up to 1,400 passengers in its 48 capsules, and provide views of Dubai Marina and landmarks such as Burj Al Arab, Palm Jumeirah, and Burj Khalifa. Its base will serve as an entertainment zone, and an 80-metre (260 ft) LED screen will be mounted on the wheel creating an electronic platform for broadcasting, advertisements, and other information.
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