After the assassination of the king Aleksandar Obrenović, the Karadjordjevic dynasty came to power, which led to a change in the system of governance.

This type of investment was a modern form of credit and an advanced method for reviving both the trading business and the market within the capitalist economy.

Some of the most important figures of economic and financial life of Serbia were once acting as a president of Belgrade Cooperative - its organizer and principal job coordinator, Luka Ćelović, subsequent donor and benefactor of Belgrade University, Kosta Taušanović and Lazar Paču, the financial leaders of Serbia of their time, public figures, prominent politicians and statesmen, as well as other well-known Belgrade businessmen, Đorđe Vajfert, Dimitirije Ćirković and others.

At the regular shareholders meeting in 1897, it was decided that a new building will be erected and so multiple properties were bought belonging to Krsmanović brothers, Gođevac brothers, Municipality of Belgrade, Vuja Ranković and Luka Ćelović, in close vicinity to the so-called Little Market on the Sava River.

The majority of the building was constructed on the old embankment, and since the land was underwater due to the proximity of the river, the foundation of many walls has to be made of reinforced concrete, the first time in Belgrade,[2] but using the iron for clamps, since there were was no round iron in Belgrade at the time.

The wings in Travnička and Hercegovačka Streets in which the workrooms are located have simple facades with uniform peaceful rhythm and different composition in every elevation.

Cellars, which extend beneath the entire building, are made of reinforced concrete, with Prussian vaults.

Most of the building was built using a standard procedure, brick in lime mortar, and only partly in reinforced concrete.

All the decorative motifs of Belgrade Cooperative Building are borrowed from post Renaissance, predominantly Baroque, but modernly interpreted to form the unique style expression.

In the niches on the side projections of the main façade are the figures of a Woman with beehive and a Man with a scroll.

Inside the building in the main hall, at the beginning of the staircase there are two counterpart figures of a young woman in the form of a chandelier.

The unity of architecture and applied decorative arts in the interior of the Belgrade Cooperative building is clearly visible.

That kind of unity is particularly valued in European architecture from the late 19th and early 20th century and is known as the "synthesis of art".

Each of the decorative elements, such as the paintings on the walls and ceilings, sculptures, stucco decorations, chandeliers and appliqué on the walls, painted glass parapet at the Counter-hall or glass surfaces of windows and doors of the main hall, are distinctive features which is why Belgrade Cooperative became a cultural monument in 1966.

Belgrade Cooperative Building is a cultural monument of value for the Republic of Serbia since 1979 (Decision, "Službeni glasnik SRS" no.

[2] Authored by Aleksandra Šević and Ljiljana Konta, the project was to include the complete rebuilding of the, today non-existing, two side domes.

[5] Government initially stated that the building will be open to everyone and that renovation cost more than €2 million, which was "donation from the UAE".

There is no published paperwork which confirms financial dealings surrounding the reconstruction, and the government bodies either refused to comment or stated they don't have any papers since it was a direct donation.