The tower was completed in 1973, and it was the 39th-tallest building in Singapore, tied in rank with Chevron House, Meritus Mandarin Singapore Tower Two, and One Marina Boulevard.

[3] It retained the former title for only one year, as the 162 m (531 ft) United Overseas Bank Plaza Two was completed in 1974.

The building was renovated in 1986 and was given a new concrete facade in the Brutalist style of architecture.

[2] In 2007, United Industrial Corporation, under a collective sale, bought the 21.2 per cent of the UIC Building that it did not already own in order for a redevelopment.

[5] A new development by United Industrial Corporation which includes a mix of residential and commercial units known as V on Shenton (Five on Shenton) was started on its former site and was completed in 2017.