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The tower was built in 1998 for the Expo 98 World's Fair. At the 120 m, there was an observation deck and, just below it, a luxury panoramic restaurant. At the base of the tower was a three-story building that served as the European Union Pavilion during the expo.
Parque Expo received permission for a plan by Portuguese architect Nuno Leónidas to expand on the riverside, for a luxury hotel with 178 rooms in 20 floors. The base building was demolished from July to September 2007, and construction of the hotel started in October 2007