The Dacia-Romania Palace, located in the historic center of Bucharest, on Lipscani Street, is a building with a rich history. It was built in the years 1882-1889, initially as the headquarters of the Dacia-Romania Insurance Company.
In 1914, it was bought by the Romanian General Bank, and after the First World War it became the headquarters of the Romanian General Bank. In 1931, the General Bank of Romania went bankrupt, and the building was taken over by the National Bank of Romania. In 1938, it was sold to the Union of Royal Cultural Foundations, and in 1948 it was nationalized.
During the communist period, the palace was used as the headquarters of the Ciprian Porumbescu Conservatory of Music and Dramatic Art, then as a restaurant, canteen and unit of the Applied Art Cooperative. In the earthquake of 1977, the building was damaged, and in the years 1979-1983 it was restored and strengthened. After restoration, it was used as a fashion house and luxury goods stores.
In 2013, the Bucharest City Hall bought the building to be set up as the Art Gallery of the Municipality of Bucharest. The building is currently being restored and fitted out.
The main stages in the history of the Palace of Dacia-Romania:
1882-1889: Construction of the building as the headquarters of the Dacia-Romania Insurance Company
1914: Purchase of the building by the Romanian General Bank
1919-1931: Headquarters of the General Bank of Romania
1931-1938: Headquarters of the National Bank of Romania
1938-1948: Headquarters of the Union of Royal Cultural Foundations
1948-1990: Various uses, including the premises of the "Ciprian Porumbescu" Conservatory of Music and Dramatic Art, restaurant, canteen and unit of the "Arta aplicată" Cooperative
1990-2013: Various uses, including the headquarters of the Romanian Commercial Bank and CEC Bank
2013: Purchase of the building by Bucharest City Hall
2019-present: Restoration and development of the building as the Bucharest City Art Gallery