Saudi Arabia Unveils Giant $135m Ferris Wheel For Madinah

Saudi Arabia is chasing private investment for a bold new landmark. The proposed Ferris wheel, named Hijaz Eye, carries a price tag of $135 million. It is listed on the Invest Saudi platform for potential backers.

The project is valued at SAR511 million in local currency. It joins more than 2,200 investment opportunities featured on the platform. That scale shows how serious Saudi Arabia is about private capital.

Where The Wheel Will Stand

Planners have chosen a 33,700 square metre site in Medina. That space is roughly equal to five football fields combined. The location gives the attraction plenty of room to grow.

Project documents do not reveal the wheel's exact height yet. Still, the prospectus describes it as a major visitor attraction. It promises sweeping panoramic views across the city.

What Investors Can Expect

Invest Saudi projects strong returns for anyone backing the project. The platform estimates investors could see returns within about seven years. That timeline positions Hijaz Eye as a serious commercial opportunity.

The attraction aims to do more than just entertain visitors. According to Invest Saudi, it hopes to enrich the pilgrim experience directly. It also intends to boost cultural engagement among all travellers.

Part Of A Bigger National Push

This project did not appear out of nowhere. It fits neatly into Saudi Arabia's broader Vision 2030 strategy. That plan places tourism and private investment at its core.

Madinah remains one of the most visited religious cities worldwide. Millions travel there each year for Hajj and Umrah journeys. A landmark like Hijaz Eye could keep many of them staying longer.

For now, the wheel exists only on paper and investment platforms. If it moves forward, Madinah could soon have a striking new skyline feature. Investors and pilgrims alike will be watching closely.