German banks to fund S'pore Flyer

German banks to fund S'pore Flyer

SINGAPORE: Two leading German banks, DBM and HVB Asia, will
finance the construction of a giant observation wheel in
Singapore, reported Channel News Asia on Tuesday.

The S$240 million (US$143 million) Singapore Flyer promises to
be one of Singapore's top attractions. At 45 stories high, the
observation wheel will provide a breathtaking view of the country
and neighboring Malaysia and Indonesia.

Some 2.5 million people - 60 percent of whom are tourists -
are estimated to take to the skies with the Singapore Flyer.

Singapore's Tourism Board (STB) says such developments will
position the country to welcome the projected increase in
travelers from growing regional markets like China and India.

STB's Tourism 2015 targets a tripling of tourism receipts to
S$30 billion, doubling visitor arrivals to 17 million, and
creating an additional 100,000 jobs in the services sector by
2015.

The construction of the Singapore Flyer will begin in two
weeks and be completed in 2008.-- DPA