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Buenos Aires Observation Wheel Breaks Ground in Puerto Madero After Decade of Delays

A CNV-filed ARS 10.16 billion contract assigns GCDI to build the 82‑meter attraction on a 450‑day schedule.

Overview

  • GCDI disclosed to the securities regulator that it was designated main contractor and that civil works and assembly are commencing for the Rueda de Buenos Aires.
  • The fixed-price contract totals ARS 10,163,329,294 (plus VAT, at Oct. 2025 values) and will adjust monthly by the Argentine Construction Chamber index.
  • Execution is set for 450 consecutive days from the start of works, guiding an estimated completion around mid‑2027.
  • The main structure will be manufactured in China by Guangdong Jinma Entertainment, with on‑site construction and coordination handled by GCDI at Dique 1.
  • The wheel is planned at roughly 82 meters high with 36 enclosed cabins carrying up to 288 passengers per rotation, under a concession held by RDBA controlled by Parque de la Costa and Fénix Entertainment.