Argentina might be making headlines for its dire economic condition, but that is not stopping the Latin American country from building the tallest building in Latin America.

According to Argentina's president, Cristina Fernández, the tower will cost $300 million and measure 1,165 feet in height. The building will serve as a media center for the entertainment industry with movie studios similar to those in Hollywood. The project is created by Riva S.A. and the skyscraper will be on Demarchi island.

On Wednesday, plans for the building were released showing that it will be shaped like the geographic map of Argentina. The area will also include a stadium for 15,000 people, shaped like the Falkland Islands, which is a British territory that Argentina once occupied and calls Las Malvinas. Fernández has also stated, reports the Associated Press, that the building will light up to the colors of the Argentine flag: blue and white.

The ambitious project will be completed in five years.