How adequate your description is would depend on the exact wording of your task, but your description doesn't give much hint of what the thing looks like - and I think that is important in a description. You haven't even said what shape it is. When I finished reading, I thought you meant that sail-shaped building.
If your passage is meant to accompany a photograph, it might be OK. Otherwise, there is something lacking.
One other thing to consider is whether its construction date, cost, etc. are relevant in a purely "descriptive" piece. So, if this is really an exercise in "description", I'd suggest some amendments, so that the reader at least knows what it looks like.
PS: This belongs in Editing & Writing Topics. It's not Literature.