Rosenthal Building, a landmark interwar-era property on Bucharest’s Calea Victoriei classified in the highest seismic risk category, is set to undergo a major consolidation project worth RON 163 million. The investment will be financed through a combination of state funding and local government contributions, the City Hall announced.<\/p>\n
The building has been included on a priority funding list approved by the Ministry of Development. According to the municipality, nearly RON 110 million will be provided through non-repayable funding from the state budget, while Bucharest City Hall will contribute approximately RON 53 million.<\/p>\n
\u201cThis is the first step. Next, we need to obtain the construction permit and sign the financing contract,\u201d reads the City Hall\u2019s announcement.<\/p>\n
Built in 1938 based on plans by architect Radu Dudescu, who served as chief architect of the National Bank of Romania (BNR) at the time, the Rosenthal Building was considered a symbol of modernity when it opened. It was among the first buildings in Bucharest to incorporate commercial spaces within a covered arcade supported by columns.<\/p>\n
The property has a built area of nearly 8,000 square meters and rises eight floors above ground, with two basement levels. For three decades, it housed the National Bank of Romania’s pension and assistance fund, while from 1968 it served as the headquarters of the Romanian Foreign Trade Bank.<\/p>\n
Currently classified as a Class I seismic risk building, the structure is undergoing interior clearance works in preparation for the consolidation project.<\/p>\n\n
irina.marica@romania-insider.com<\/p>\n