Damaged Concrete Wall
The damage on this concrete wall is from years of
moisture accumulating inside of it.
Some of the moisture could have been drawn up from the ground and that would explain why the paint is not peeling as badly in the upper areas.
Good paint will actually seal most of the moisture in, making it hard to evaporate out of the concrete wall. This in turn will cause more damage over time.
If this side of the building is in the shade that will contribute to the problem as well.