A new $550m leisure district - The Linq - on the Las Vegas Strip is gearing up for its launch in 2013.

Owned and operated by Caesars Entertainment Corporation, The Linq will span more than 200,000 sq ft (18,580sq m) and is comprised of retail, dining, beverage and entertainment experiences. Washington D.C-based design firm David M. Schwarz Architects and the architect of record is Las Vegas-based Klai Juba Architects.

Caesars has retained Caruso Affiliated, owner and operator of Los Angeles shopping distract The Grove, as the leasing agent for the project.

The focal point will be a giant observation wheel - The Las Vegas High Roller. It is set to be the world’s tallest wheel yet at 550 ft, eclipsing the London Eye and the Singapore Flyer. Designed as transparent spheres, the 28 cabins can each accommodate up to 40 people.

The Hettema Group designed the wheel attraction that will take 30 minutes to complete one full revolution. The High Roller will have the capacity to accommodate 2,240 passengers per hour and 10m annually.

It will be erected at the back end of The Linq entertainment district and will face north and south, parallel to Las Vegas Boulevard.

The Linq will bring upgrades to three, large mid-Strip Caesars Entertainment resorts and O'Shea's casino. On the Linq's north side, a path will lead from the Carnaval Court outdoor plaza at Harrah's Las Vegas resort through the Imperial Palace Hotel and Casino and to The Linq.

A pedestrian connection will also be built from The Linq into Flamingo Las Vegas on the south.

The first wave tenants that have joined The Linq include Brooklyn Bowl a music venue and bowling centre and F.A.M.E an Asian night market.