This dominant, standalone building on the northwest side of the Republike Square (or the Square of the Republic) was built in 1937 by the Niš pharmacists Dragutin Veličković for his family, most likely according to the designs of the Russian architect Georgije Kovaljevski.

On the ground level, there was a pharmacy with a study. The first floor, which has a projecting and covered terrace with arcades, contained the living quarters of the owner, and the second floor, with and opened terrace contained the guest rooms. There is an attic, with a dome above its central part.

The architecture of this villa has all the eclectic characteristics. With a combination of various elements, the façade appears very ornate, and the dominant details are characteristic of Venetian Gothic and Moorish decoration.

After WWII the villa was nationalized, but its residential function was not altered, and the ground level still contains office space.