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DUBAI, United Arab Emirates (AP) - Dubai's ruler has approval a $1.6 billion island development project that would be home to what's billed as the world's biggest Ferris wheel.

The project reflects a renewed appetite in Dubai for extravagance as the economy rebounds from a debt-driven slump during the past three years.

The official WAM news agency said Wednesday that the Ferris wheel - dubbed the Dubai Eye - will stand 210 meters (688 feet), exceeding the London Eye's 135 meters (443 feet). Construction is set to begin this year.

Dubai has proposed a series of mega projects reminiscent of its boom years before the downturn hit in 2009. The projects include theme parks and a satellite city named for Dubai's ruler, Sheik Mohammed bin Rashin Al Maktoum.



Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Read the original story: Dubai backs plans for world's biggest Ferris wheel

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