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Palace of the Parliament

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The Palace of the Parliament (Romanian: Palatul Parlamentului) is the seat of the Parliament of Romania. Located on Dealul Arsenalului in central Bucharest (Sector 5), it is the largest administrative building in the world with a height of 84 metres (276 ft), an area of 365,000 square metres (3,930,000 sq ft) and a volume of 2,550,000 cubic metres (90,000,000 cu ft). In terms of weight, the Palace of the Parliament is the heaviest building in the world, weighing in at around 4,098,500,000 kilograms (9.0356×109 lb). A colossal parliament building known for its ornate interior composed of 23 sections, it houses the Senate and the Chamber of Deputies, three museums and an international conference center. The museums hosted inside the Palace are the National Museum of Contemporary Art, the Museum of Communist Totalitarianism (established in 2015) and the Museum of the Palace. Though named the House of the Republic (Romanian: Casa Republicii), after the Romanian Revolution in 1989 it became widely known as the People's House (Romanian: Casa Poporului). Due to its impressive endowments, events organized by state institutions and international bodies such as conferences, symposia, and others take place there, but even so about 70% of the building remains empty. In 1990, Australian business magnate Rupert Murdoch wanted to buy the building for US $1 billion, but his bid was rejected. As of 2008, the Palace of the Parliament is valued at €3 billion ($3.4 billion), making it the most expensive administrative building in the world. The cost of heating and electric lighting alone exceeds $6 million per year, as much as the cost for a medium-sized city.