Construction on Edificio Portico will begin in early 2003.Delivery is planned for late 2004. The US architectural firm ofSkidmore, Owings & Merrill will design the building along withSpanish architect Rafael de La-Hoz.

The Houston-based Hines entered Spain's real estate market in1996 when it bought 84 acres that are now being developed into amixed-use project. Diagonal Mar consists of a shopping center, fiveresidential phases, three hotels, three office buildings and thefourth largest public park in the city.

Santos Montoro, Monthisa's real estate director, said in a pressrelease that the teaming with Hines will "offer a building withhigh international standards that will be adapted to the needs andcharacteristics of the Spanish users." The development tract islocated near hotels, shopping centers, restaurants, conventioncenters, a public golf course and the 420-acre Juan Carlos IPark.