A dictator’s fantasy now has a price tag

A dictator’s fantasy now has a price tag

Bucharest, April 13, 2016/Independent Balkan News Agency

By Irina Stoica

The People’s Palace in Bucharest has become famous as the second largest administrative building in the world, after the Pentagon, and as a symbol of dictator’s Nicolae Ceausescu’s megalomaniac fantasies. It’s the city’s most profitable tourist destination. Almost 180,000 people pass its impressive threshold every year. And now the infamous building has a price: 2.2 billion euros. It’s actually the net worth of the building itself plus the land beneath it. If we separate the two, the 31 hectares land has been evaluated at 894 million euros. The evaluators commissioned by the Government place the building, extended on a surface of 220 square meters, at the value of 1,16 billion euros. It comes as no surprise that the biggest building in Romania is also the most expensive property in the country.

In 2014, the People’s Palace got the Romanian state 800,00 euros in revenues just from visitors. One entry costs about 3.3 euros. Other statistics of Bucharest’s main tourist attraction are as follows: it has 2,800 crystal chandeliers, 1,409 ceiling lights and mirrors, 200,000 square meters of woolen carpets, eight underground levels, one antiatomic bunker.