George W. Lipscomb. 79, retired president of a building firm that constructed or restored many major buildings in the Washington area, died Saturday at Suburban Hospital after a brief illness.

He joined his father's company, the William P. Lipscomb Co., in 1922 and subsequently served as president until his retirement in 1972. He lived in Washington.

Under Mr. Lipscomb's direction, the firm built the YWCA and its adjacent Stron Residence, the Belgian Embassy, the West German Embassy and Chancery, the Mormon Temple on 16th Street NW, the Netherlands Chancery and the Virginia Square Shpping Center in Arlington.

It also handled restoration of Octobgan House, headquaters of the American Institute of Architects; AndersonHouse, headquartes of the Society of the Cincinnati, and St. Gabriel's Robman Catholic Church.

Mr. Lipscomb, who was a past present of the Master Builders Association, was a member of the Society of the Cincinnati and of the Cosmos, Metropolitan, Chevy Chase and Sulgrave Clubs.

He had been a member o fth evestry of All Souls Memorial Episcopal Church for 50 years and was senior warden emeritus at the time of his death.

A fouthgeneration Washingtonian, Mr. Lispscomb served in the Navy during World War I. He received a degree in civil engineering fron the University of Michigan.

He is survived by a duaghter, Sarah Holderness, of Boyd, Tex., and two granchildren.

The family suggest that expressions of sympathy may be in the form of contributions to the William Edward Farr Sharon Chapel at Children's Hospital.