Alas was the tallest building in Buenos Aires between 1955 and 1995, when it was surpassed by the Le Parc tower.

[1] The building was commissioned in 1950 by President Juan Perón for the Association of Unionized Latin American Workers (ATLAS, S.A.).

He ordered that plans include an underground bunker for use in case of war or a coup d'état.

Perón, however, did not seek refuge there during the 16 June 1955 bombing of Plaza de Mayo by the Argentine Navy.

Two underground floors are occupied by parking spaces, a gym, the boiler room, bike racks and other amenities.