On October 11th 1896 the Municipal Council of the town of Ruse adopted a decision for granting a terrain in the city centre for theatre building and announced a contest for the construction of the building. The Mayor Georgi Mihaylov summarized the decision of the Council in the following manner: “The terrain is given for a profit-yielding building which will bring funds for the Bulgarian schools”. The Incomes House, or the Profitable House, as it later became famous, was intended to satisfy a variety of cultural and community needs, while the collected rentals - to provide funding for the city schools. On December 30th 1896 was announced a contest for the architectural design of the building. On March 26th 1897 the jury selected the project named “Voila une idee” of the architect from Vienna Paul Brank. The construction manager on behalf of the Ruse municipality was Georg Lang, while on behalf of the contractor Gatyu Tsonev the manager was Frank Scholz. The building was deemed finished in 1900, though it was still incomplete. The construction works lasted from 1898 till 1902. Within the building were accommodated a theatre hall, a public library, a casino and trading shops.
Till today the building was used predominantly for the purposes of the Ruse Theatre. At the end of the 1970s a decision was taken for overall reconstruction of the building. Since 1981 it was closed for reconstruction, while the works began several years later. The reconstruction was implemented according to the design of a team leaded by the architect Konstantin Vandalov. The main idea was to establish a complete theatre complex, with new premises and halls, expanding and widening the existing old building. The reconstruction works lasted 24 years.
On Ěay 1st 2007 the Municipal Council of Ruse took a decision for establishment of Municipal Company “The Profitable House” with the main purpose to manage and administer the activities of the symbol of Ruse – the Profitable House. The company is a structure of broad format, which follows the principles of good management and profitability.
On Ěay 1st 2007 the Municipal Council of Ruse took a decision for establishment of Municipal Company “The Profitable House” with the main purpose to manage and administer the activities of the symbol of Ruse – the Profitable House. The company is a structure of broad format, which follows the principles of good management and profitability.