The Singapore Flyer is an observation wheel at the Downtown Core district of Singapore. Officially opened on 15 April 2008, it has 28 air-conditioned capsules, each able to accommodate 28 passengers, and incorporates a three-story terminal building. The flyer has made numerous appearances in media and popular culture that features Singapore. The Flyer has an overall height of and was the world's tallest Ferris wheel until the High Roller, which is taller than the Flyer. Early history The Singapore Flyer was first conceived in the early 2000s by Patrick MacMahon of Melchers Project Management, a subsidiary of German company Melchers. Formal planning commenced in 2002. A new company, Singapore Flyer Pte Ltd, was formed as the developer, with Melchers Project Management holding a 75% stake, and the remainder held by Orient & Pacific Management. The project was formally announced and endorsed on 27 June 2003 by the Singapore Tourism Board with the signing of a memorandum of understanding, formalising the understanding between the developer and tourism board with regard to the land-acquisition process. Under this agreement, the tourism board was to purchase the plot of land in Marina Centre from the Singapore Land Authority, and lease it to Singapore Flyer Pte Ltd for 30 years with an option to extend the lease by another 15 years. The land was to be rent-free during the construction phase of the project. In July 2003, Jones Lang LaSalle was appointed as the real estate advisor. Takenaka and Mitsubishi were selected as the main contractors, and Arup as the structural engineer. In August 2007, Florian Bollen, Singapore Flyer Pte Ltd chairman, raised his stake in the Singapore Flyer from 60% to 90% through acquisition of Melchers Project Management's 30% stake. The deal was done via AAA Equity Holdings, a private investment vehicle headed by Bollen. Orient & Pacific Management, which spearheaded the project development management, owns the remaining 10%. Construction The groundbreaking ceremony was held on 27 September 2005, with Mah Bow Tan, then Minister for National Development, as guest of honour. The spindle was fitted on 13 December 2006, and the outer rim was completed on 9 April 2009. Installation of the passenger capsules began on 3 August 2007 and was completed on 2 October 2007. Opening The Flyer opened in 2008. During Chinese New Year, corporate 'inaugural flights' were held from 11 to 13 February, and tickets for which sold out for