It was built between 1968 and 1972. The design and construction was in charge of architect Guillermo Cubillo Renella, with the collaboration of Fernando Pacha and Nelson Valencia. The building was constructed in the modern style that was in fashion during the 70’s and the original project contemplated a structure to cover four streets, but finally, the building ended up with three facades.
Its architecture comprises the principles of the modern movement characterized by the transparency of its facades, the elegancy and simplicity of its lines and the purity of the geometry that are manifested in all its splendor. At the inferior part of the façade there is a mural from Manuel Rendon Seminario, distinguished artist from Guayaquil, who made the original in pastel chalk that later was remade in glazed ceramic.