The state-owned villa in Bucharest where Romanian politician Mircea Geoana, a former Minister of Foreign Affairs and Former Head of Senate currently lives with his family, was recently bought at auction with EUR 906,600 euros plus VAT, by local real estate developer De Silva.

The villa belongs to the State Patrimony Administration RA-APPS, which organized the auction. The starting price for the villa was EUR 588,000 plus VAT. A representative of the Geoanas also bid for the villa but lost.

RA-APPS put the villa for sale after Geoana was excluded from the Social Democrat Party (PSD) at the end of last year, after PM and PSD leader Victor Ponta lost the presidential elections. Geoana, who had led PSD before Ponta and lost the presidential elections in 2009 to Traian Basescu, was punished for his divergent views to those of PSD’s current leaders.

The villa Geoana lives in has two floors plus attic and a total surface of 271 sqm. It is located on a 550 sqm plot next to the Romanian public television headquarters, in one of Bucharest’s top districts (between Calea Dorobantilor and Aviatorilor Blvd.). Geoana was paying over EUR 3,000 monthly rent for the villa, and he previously said that he was looking to move out, according to Hotnews.ro.

The buyer’s representatives said that they plan to demolish the building and build an office or a housing building on the site. "We only buy houses that may be demolished, and in their place, we build office buildings or apartments," said Virgil Calina, the owner of the DeSilva group, quoted by Mediafax.

DeSilva Group owns the Ramada North hotel in Bucharest, and has developed several real estate projects, such as the Park Residences compounds, located in the north of Bucharest and Predeal, warehouses and office spaces. The 271 sqm villa, with floor and attic, has 8 rooms, and a 550 sqm plot.

editor@romania-insider.com