Businessman Habib Elghanian built the original Plasco Building, which was begun in 1960 and opened in 1962. The article names no architect, style, structural system or materials. The infobox gives 17 floors and a roof height of 138 feet (42 m), without saying which building that applies to.
On January 19, 2017, a fire that started on the ninth floor was followed by the collapse of the building. Firefighters were among the dead, and the casualty figures conflict across reports. The article does not establish the cause of the fire. An April 2017 government report said the owner had ignored warnings and that ministries had failed to enforce 22 national building regulations.
A new Plasco, designed by Kourosh Rafiey Design Studio, was built from 2018 to 2021 with 20 floors.
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