The building was built in 1952, during the government of Manuel Odría, and is the work of architect Guillermo Payet, who conceived the design according to the modernist movement, occupying an entire block of Abancay Avenue,[2] at the time of its widening.[3]
The tender for the construction of the building was awarded in December 1949 to the firm Gramonvel S. A. for a budget of S/. 25 million, and with a completion period of 24 months.[4]
Its exterior is decorated in marble, with a series of bas-reliefs on the front, the work of Artemio Ocaña [es] and Luis Felipe Agurto Olaya. The interior, on the entrance level that faces the main avenue, has a mural by Teodoro Núñez Ureta in the lobby.[2]
