Move over Singapore Flyer. For those who crave a more adrenalin-inducing vertical experience, a skydiving simulator is set to debut in Singapore next year.

iFly Singapore on Sentosa will send participants - first-time adventure seekers and skydiving enthusiasts alike - some 17 metres, or approximately five storeys high in a transparent wind tunnel, for a realistic free fall experience.

Built right next to the Beach Train Station, the simulator will offer flyers panoramic views of the South China Sea, Siloso Beach, and a nightly fireworks treat from the "Songs of the Sea" attraction.

The S$16 million project - developed by SkyVenture Singapore - was officially announced today, and is scheduled for completion in the second quarter of 2009.

SkyVenture Singapore is a franchise of Skyventure, a US-based vertical wind tunnel manufacturer with 15 facilities currently in operation and another 17 undergoing construction around the world.

iFly Singapore Manager Director Lawrence Koh expects the simulator to be a hit with locals and tourists alike, and he estimates that 100,000 people will try out the simulator in its first year of operation.

"As the public has no access to a parachute drop zone in Singapore, iFly Singapore will offer anyone from amateurs to professionals the chance to skydive in a safe, realistic and affordable indoor setting," he said.

A projected S$8 to S$10 million in revenue is expected in the first year, from ticket sales and merchandising, together with 10,000 sq ft worth of retail, and food and beverage outlets.

Besides thrill seekers, Mr Koh says that iFly Singapore will also feature an educational component - schools can use the innovative wind tunnel technology and free fall experience to explain physics concepts and body physiology to students.

The iFly experience will cost no more than S$40 and will last approximately 30 minutes. Fees include gear rental and professional coaching from certified instructors.