Business
Investment in New Giant Observation Wheel Project
Investment in New Giant Observation Wheel Project.
About this update from Cindrigo Holdings Limited
[{"type":"text","content":"\n \nRNS Number : 1956C Challenger Acquisitions Limited 18 January 2018 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN.\n \n \n 18 January 2018\nChallenger Acquisitions Limited\n(\"Challenger\" or the \"Company\")\n \nInvestment in New Giant Observation Wheel Project:\nThe Eye of Texas \n \nChallenger Acquisitions Limited (LSE: CHAL) is pleased to announce that it has it has invested US$300,000 (\"the Investment\") in a new Giant Observation Wheel (\"GOW\") project in Dallas, Texas called the Eye of Texas, LLC (\"EOT\"). This is in line with the Company's strategy to acquire and/or take interests in strategic growth opportunities in the leisure and attractions sector that offer both near and long-term revenue generation prospects, and complements Challenger's equity stake in the New York Wheel.\n \nHighlights \n· Challenger has invested US$300,000 for pre-development costs of the Eye of Texas GOW\no Opportunity to invest, at Challenger's option, up to US$1 million in this first tranche\no Balance of the total pre-development costs of US$3 million is being raised by local developers\n· Highly experienced team of real estate professionals and commercial/residential developers have been working on the EOT for three years, during which time significant equity has been invested and planning has commenced\no A seven-acre parcel of land has been contractually se...