The wheel sits on reclaimed land at the Central Harbourfront, between Pier No. 9 and Pier No. 10, on a site the Lands Department leased to operators in May 2013. The location is specific to Hong Kong's urban geography: the harbour front in Central has been incrementally reclaimed from the sea over more than a century, pushing the waterline steadily northward and creating flat usable land at the base of the steep island hills. The wheel stands 60 metres tall and overlooks Victoria Harbour, with the Kowloon skyline filling the view to the north. Around 90% of the site is accessible to the public at no charge, with food and beverages available and a year-round events plaza. The wheel itself has 42 gondolas, all air-conditioned, with a single VIP gondola featuring leather seats and a glass floor. Each ride runs two to three rotations and lasts about 15 minutes.

The wheel's history is more complicated than its elegant rotation suggests. Although the operation contract was awarded in 2013, it did not open until December 2014. Its original operator, Swiss AEX, drew criticism — the government's own Secretary for Development bluntly noted that Swiss AEX had no prior experience operating observation wheels. By 2017, ownership became contested. The Secretary for Development stated the wheel might be dismantled and closed for two years while a replacement operator was arranged. On 6 September 2017, a deal between Swiss AEX and The Entertainment Corporation Limited (TECL) rescued it from demolition. TECL reopened the wheel on 20 December 2017 as part of a new AIA Vitality Park, integrating health and wellness events into the surrounding site. Within seven months of reopening, TECL reported reaching one million riders.

Whether Hong Kong actually needed the wheel was debated from the start. Critics pointed out that the view from a 60-metre ride is easily matched — or exceeded — from the city's towers and the hillside above Central. Nicholas Brooke, chairman of the Harbourfront Commission, supported the project in interviews, though his commission had no executive power over it. The debate raised a genuine question about what observation wheels actually offer in a city where every tall building commands a panoramic harbour view. The answer, perhaps, is not the view itself but the ritual of rotating slowly above the waterline, watching the city turn around you — an experience different in kind from a static window on the 40th floor, even if the coordinates are similar.

At night, the wheel glows red, a ring of light reflected in the harbour water. From the Central Harbourfront you can watch it turn against the backdrop of Kowloon's towers. The Star Ferry terminal is nearby, and the surrounding AIA Vitality Park draws a crowd that mixes tourists with local residents taking an evening stroll along the reclamation. It is one of the more relaxed spots in a city that rarely relaxes. Whether or not you ride it, the wheel has become part of the Central waterfront's visual rhythm — present enough to be destroyed twice, once in a Hollywood blockbuster and once almost for real.