New York is set to officially break ground this week on a Ferris wheel that could become the tallest in the world once it is completed in early 2017. But any reign for the New York Wheel would be brief, as Dubai started construction a few days ago on a Ferris wheel that will be just 60ft higher. The humongous attraction on Staten Island promises stunning panoramic views of the Manhattan skyline, in addition to other New York City boroughs and the neighbouring state of New Jersey. Planners for the New York Wheel said it will offer stunning panoramic views of the Manhattan skyline and other New York boroughs . Set near the St George Ferry terminal the giant observation wheel will cost an estimated $25 to $30 for a 38-minute ride . Located next to the Hudson River the 630ft New York Wheel will be able to carry as many as 1,400 passengers at a time, with one full cycle taking about 38 minutes to complete. It will include mobile bar cars, a 20-seat restaurant, a 4-D ride on the ground and an LED light show every night, in addition to alternative energy sources. A shopping mall and 200-room hotel are to be built next door. Ticket prices will range from an estimated $25 to $30 (£17 to £20) as New York Wheel LLC, the company behind the ambitious project, hopes it will join the Statue of Liberty, Empire State Building and Times Square as one of New York’s must-visit attractions. Located on the bank of the Hudson River the New York Wheel will be able to carry as many as 1,400 passengers at a time . The $500million (£340million) observation wheel was designed by Perkins Eastman and EEK Architects, and is being built by Starneth BV, the Dutch company which erected the London Eye and is overseeing the Dubai Eye. Wil Armstrong, president of Starneth LLC, told Mashable that the Dubai Eye is ahead, but ‘anything could happen to delay it’ and give New York Wheel the lead. Dubai’s observation wheel will stand 690ft tall when it is complete, making it the world’s biggest. At 550ft, the current record holder is the High Roller in Las Vegas, followed by the Singapore Flyer (541ft), China’s Star of Nanchang (525ft), and the London Eye (443ft). The $500million observation wheel  is being built by Starneth BV, the Dutch company which erected the London Eye . Planners hope the New York Wheel will join the Statue of Liberty and Empire State Building as a top attraction in New York City . The original Ferris wheel, built in Chicago, was 264ft tall. New York’s giant Ferris wheel will be located near the St George Ferry Terminal, which welcomes an estimated two million tourists every year. Planners for the New York Wheel believe it will attract more than three million riders every year, and claim it will create about 350 construction and 600 permanent jobs in ticket sales, maintenance and other positions. The company said it is currently in talks with the New York Police Department and a private security firm to prepare a security plan for the tourist attraction.
Official ground-breaking for the 630-ft New York Wheel will take place this week on Staten Island . Construction started last week on the Dubai Eye, which will be just 60ft higher . New York Wheel will have mobile bar cars, a 20-seat restaurant and a 4-D ride on the ground .