An observation wheel as tall as the London Eye is to be built in Moscow's VDNKh, the city’s Mayor’s Office announced Thursday.

The 135-meter wheel will replace the current pavilion number seven, which was built in 1978.

“The wheel will be the centre piece of a new “Park of the Future” area, replacing aging and outdated attractions in that section of the park”, the Mayor’s office said in a statement.

A covered walk-way, a waxwork museum and a cinema will also be built alongside the wheel.

VDNKh, now officially known as the All-Russia Exhibition Centre, is an expansive Soviet-era park in the capital's north-east. Originally used for parades and exhibitions celebrating the achievements of communism, it fell into disuse and disrepair after the fall of the Soviet state. It has undergone a revival in recent years following new investment from Moscow’s authorities.