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Biggest “real estate project”: Unirii apartments, worth one billion euros

07.07.2010, 23:08 18

The around 6,000 apartments located on Unirii Boulevard ofBucharest, between the Parliament Palace and Piata Alba Iulia, havea market value of approximately 1bn euros, and can be consideredthe biggest real estate project ever carried out in Romania,especially if investments in the People's House (Casa Poporului -currently the Parliament Palace) are taken into account. Projectconstruction lasted for more than ten years, with the goal ofNicolae Ceausescu being to provide housing units for politiciansdue to work in the People's House. Housing units were designed tobe bigger than the rest of Bucharest apartments, and the locationand technical parameters make these apartments relativelyearthquake proof. Despite this and prices ranging between150,000-200,000 euros per apartment, residents of the area havetheir reasons of discontent.

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