Chung is correct if you are using color negative film, but let me elaborate a little bit.
What you have here is a high contrast scene - a large range of light values between the bright sky (the highlights) and the dark shadows on the side of the building (the shadows). Most color negative film has an exposure latitude of about 7 f stops between the brightest highlights and the darkest shadows, and can tolerate about two stops underexposure of the shadows while still giving decent shadow detail. So when faced with a high contrast scene, a general rule of thumb is to calculate your exposure by taking a meter reading of the shadows and under expose them by two f stops. That will give you good shadow detail without blowing out the highlights.
There is a way to get a more precise exposure, but it is somewhat complicated. Rather than just pointing your light meter in the general direction of your scene and hope for the best, take two focused readings, one of the sky (highlights) and one of the side of the building (shadows). Lets say you did that and your light meter gave you exposures of f/16 @ 1/250 for the sky and f/2 @ 1/250 for the side of the building. That is a range of 7 f stops which is within the capability of the film. Set your exposure at two f stops underexposed for the shadows, f/4 @ 1/250, and you will capture good detail in both the highlights and the shadows. If the contrast range between the sky and building was only 6 f stops then set your exposure to under expose the shadows by only one stop. If the contrast range was more that 7 f stops then your scene exceeds the contrast latitude of your film. You are going to lose detail in either the highlights or the shadows so you will have to make a decision as to which is more important and choose your exposure accordingly.
Color slide film is just the opposite in exposure tolerance and also has a smaller exposure latitude of typically three f stops. In a high contrast scene using slide film your best shot is to meter the highlights and over expose them by one f stop.
Hope this helps. -- Lee