A 101 m (331 ft) tall structure,[1][2][3][4] it is one of the symbols of the city and representative of the "golden age" in the development of Belgrade during the 1965–1974 mayoral term of Branko Pešić.

In 1941, right before World War II began in Yugoslavia, the plans were made to build the high-rise on the location.

[12] Other hospitality venues were restaurant "STB" (formerly "Plato") on the 5th floor (known for its decorative gold plated tiles) and club B-74.

[10] After the idea of Đoko Vještica [sr] (1939-2008), journalist from Studio B, a drinking fountain was built on the plateau at the Beograđanka's entrance.

[9] Size and location were also criticized, due to the narrowed view on the Church of Saint Sava and problems with parking, communal services and deliveries.

[9] Despite Yugoslavia being a Communist, one-party state at the time, the architects chose for major project were selected from two dominant branches, either professorial or from business sector.

As soon as the building was finished, his colleagues massively criticized him personally, as a good professor but the one who would never escape the anonymity if not selected by the party for this job, and for the design itself.

However, construction proved that Pešić was capable for the task, and in time only the criticism of the façade color remained.

[9] Pešić declined to debate on the issue or to refute the criticism, believing he has done the right thing, designing Beograđanka just the way it is.

[9] After several decades, it proved that the building neither damaged the Belgrade's cityscape from any of the four sides (Syrmia, Banat, Zvezdara, Avala), nor "darkened" the White city as represents only one piece in the skyline's mosaic.

Becoming symbol of Belgrade, in time it was labeled as an object which deserves social gratitude and accolade for the designers, a building that no one would be ashamed even today, including the problematic elements.

On the other floors, there are business premises, as well as the head offices of IKEA for Serbia[citation needed] and other Belgrade media are also located in the building.

[18] Architects, economists, citizens' groups and political opposition started criticizing city's actions in these matters, especially with the similar, much longer failed process conducted for another symbol of Belgrade, the Sava Centar congressional center.

"MPP New Project" was founded two weeks prior to the bidding, with the capital of 100 Serbian dinars or €0.85.

"Marera Properties" previously acquired several objects in Belgrade, founding separate companies for purchasing each one.

Reporters discovered that "Marera Properties" basically exists only on paper, and that behind it is the Russian fund seated in Cyprus connected with offshore companies from the British Virgin Islands, which also recycles money from Serbia.

Several present and former executives of the company turned out to be, directly or indirectly, connected to Siniša Mali, Serbian finance minister and former mayor of Belgrade.