The Ain Dubai It is a 250 meter high Ferris wheel located in the Bluewaters Islandin the United Arab Emirates (UAE), making it the biggest of the planet. At least his kind. For reference, the famous London Eye around 135 m. However, the reign of meganoria Dubai might not last long. A group of Spanish investors has proposed to build a similar structure of 260 m, a unique piece that would redefine the skyline of the city. They have even given it a name: Panorama Tower.
The most curious thing is not the project itself, but Madrid’s determination to carry it out against all odds.
A meganoria in Madrid? That’s how it is. And if you have followed the Madrid chronicle of the last five years you will know that it is not exactly a new project. Its origins can date back to at least March 2020, when the then vice mayor Begoña Villacís wakefulness that the City Council was working to provide Madrid with the largest Ferris wheel in Europe.
Although Villacís came to meet with a company interested in the project, the pandemic and the political changes (the leader was part of C’s, a group that was left out of the Consistory in 2023) made the meganoria would stay in the drawer. Since then the topic has warmed the political debate and there has even been talk of different locations for the structure, including Madrid Rio and the park Tender Galvanalthough without becoming a priority real.
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What has changed? That the project seems to have gained oxygen. That is what follows from an exclusive published a few days ago by The World in which a few news about the future Panorama Tower are revealed.
According to the newspaper, the project has the support of the organization Madrid Business Forum and it seems to have aroused the interest of an investment group with Spanish capital that, although it has chosen to remain anonymous, would be willing to provide funds to raise the wheel. It is not a minor detail if you take into account that The World talks about the investment being around 300 million.
Is it the only new thing? No. In fact the above is not even the most important thing. The real novelty is that the meganoria has found a new horizon. Although in recent months the debate had focused on its possible location in the Tierno Galván park, now its promoters are looking towards another area of the city: the future development of Madrid New North. To be more precise, the focus is on a municipal plot which houses the EMT garages and is not far from the ‘Four Towers’ from Madrid.
Is it that important? Yes. That the promoters are now betting on Madrid Nuevo Norte is important for several reasons. First, because of what it would represent for this new urban development in Madrid, which aspires to become one of the great financial, technological and business centers of Europe. Second, because, if Torre Panorama finally goes ahead and the meganoria becomes a new tourist icon, it would help decongest the center.
What about the previous location? The choice of Madrid Nuevo Norte would also mean giving up the Tierno Galván park, a location that was controversial because the rejection of the residents of Arganzuela to the project. In fact, they came together 15,000 signatures against the meganoria.
At the moment the Consistory only has recognized that it is “open to studying the technical feasibility” of a ferris wheel, although it has not yet received any “formal” proposal. Regarding the possibility of building it on the plot that the EMT once used, remembered that its use is “endowable”, so it “could be used” for that purpose.
Do we know anything else? Yes. Beyond its size or location, one of the details that most attracts attention about the project is the effort that its promoters are putting into moving it forward. Even rethinking locations. In 2020, when it was talked about for the first time On the subject, Madrid Río was targeted. It even slipped that the idea had attracted to the firm Circular View, which had previously tried without success to promote a similar structure in Valencia. Years later the focus shifted to Tierno Galván.
The location actually rang so loudly that in August 2024 The City Council even hired a geotechnical study to clarify whether the park has the necessary characteristics to accommodate a structure of that caliber. Its results were revealed a few months ago, in march. And although the change in location has caused them to lose interest, they help us understand the dimensions of the Ferris wheel much better.
And what will it be like? According to the information collected in that study, replicated a few days ago The Worldthe Ferris wheel would measure up to 260.4 m high, the equivalent of a 62-story floor. With such a size it would easily surpass the Crystal Tower (249 m) and would become the tallest building from Madrid and Spain. It would also far surpass the Ain Dubai.
The construction would sit on an area of 800 m2 and, instead of having the traditional structure of the London Eye or Ain, it would rise as a “ferris wheel tower”, with shops, commercial areas, leisure spaces and a panoramic viewpoint. The objective: to provide Madrid with its own ‘Eiffel Tower’.
Images | Madrid City Council and Wikipedia
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