The two historic buildings could be upgraded to allow the construction and arrangement of a mixed office, hotel and retail project, considering that half of the Ambassador Hotel nearby is also on sale. The project involves keeping the Ciclop building as a parking lot. The sale price of the two buildings is 18 million Euros.

"We are proposing a plan for a project valued at about 22 million Euros, which includes hotel, offices, commercial premises and parking. Also on sale is half of the Ambassador Hotel. We propose to keep Ciclop as parking because the main problem in the area is the lack of parking space, especially if you make offices or commercial spaces. In the case of the Scala building, it currently has studios and those still living there are about to move", explains Eduard Uzunov, chairman of Regatta real estate consultant.

With the sale and rehabilitation of the three buildings, Ciclop, Scala, and half of the Ambassador Hotel, the Magheru Boulevard area would begin for the first time in the last decades to be upgraded.

The first step was made by Austrian Alfred Beck, the developer of Magheru One office building and the owner of Pipera Business Park, who built an office project on Magheru Blvd, opposite Ciclop building. (Source: