Chemolimpex was designed by Zoltan Gulyas in 1960. The handling of volume allows to the building to blend in well with the turn-of-the-century houses so typical of Budapest. Also worth mentioning in connection with this house are the details, which are of course different from those associated with architecture in a historicist style.
A new development project to further rejuvenate downtown Budapest will be launched. This means, if the project come to fruition the Chemolimpex will be distroyed. Plans include the construction of a 120-room boutique hotel which would appear to float above the complex like an airship.
The new building, called "New City Center", will be built adjacent to the "new main street" and will replace buildings located next to the British Embassy. The plans were developed by Foster & Partners.