A Ferris wheel in Malaysia will become the world’s highest when it opens as part of the under-construction 78-storey M101 Skywheel in Kuala Lumpur.

The mixed-use building will be the first integrated development to be designed by Studio FA Porsche – known famously for its sports car design – and will, at 200m (656ft) above ground level, feature a uniquely designed Ferris Wheel resembling a giant watch.

At its peak, the wheel will be able to offer views of the city from heights of up to 220m (722ft).

China Railway Construction Corporation Malaysia Bhd (CRCC) has been appointed as the main contractor for the build, with the giant H-shaped building becoming part of the city skyline when it opens in 2021.

“The first of its kind in the world, the M101 SkyWheel, with its two towers, is a landmark designed to redefine the Kuala Lumpur skyline,” said Studio F.A. Porsche in a design statement.

“For our approach we applied local Malay design elements through a functional and thoroughly modern lens, turning traditional patterns into bold and new imagery.

“Three signature elements help define the building: its red meridian stripe, the reflective black glass and the titanium pedestal, which elevates the building and instils a sense of presence. Each element operates individually and complementarily to form one grand design.

“By applying our functional product-design-oriented approach to the façade, with a focus on materials and attention to detail, we ensured the design stands as a product that challenges conventional design thinking and allows visitors to interact with the space in entirely new ways.”

The RM2.2bn (US$556m, €455m, £404m) project will also feature the world’s highest shopping mall, which will take up floors 50 to 52 covering 200,000sq ft (18,600sq m), and Asia’s first Planet Hollywood Hotel.

Porsche has also created “iconic architectural design suites”, which have been included as a way of attracting foreign investments to Malaysia via 'property tourism'. The two towers, located either side of the wheel, will contain office and retail space.