The Cotroceni Palace in Bucharest, which serves as the official residence of Romania’s presidents, was valued at over RON 1.4 bln (close to EUR 300 mln), according to a valuation report included on the Government’s agenda, Ziarul Financiar reported.

The total value includes the palace itself and amenities (EUR 83.6 mln) and the land of the Cotroceni domain (EUR 208.8 mln).

The Cotroceni Palace is located on a 19-hectare land plot in Bucharest’s central area.

The palace was built between 1888 and 1896 to serve as the official residence of King Carol I in Bucharest. After the Romanian revolution in 1989, the palace became the official residence of Romania’s president.

editor@romania-insider.com

(Photo source: Presidency.ro)