Dâmbovița Center is an unfinished Romania

Romania

Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...

n building in Bucharest

Bucharest

Bucharest is the capital municipality, cultural, industrial, and financial centre of Romania. It is the largest city in Romania, located in the southeast of the country, at , and lies on the banks of the Dâmbovița River....

, Romania

Romania

Romania is a country located at the crossroads of Central and Southeastern Europe, on the Lower Danube, within and outside the Carpathian arch, bordering on the Black Sea...

, near Cotroceni

Cotroceni

Cotroceni is a neighbourhood in western Bucharest, Romania located around the Cotroceni hill, in Bucharest's Sector 6.The Hill of Cotroceni was once covered by the forest of Vlăsia, which covered most of today's Bucharest...

, on the shore of the Dâmboviţa River

Dâmbovita River

Dâmbovița is a river in Romania. It has its sources in the Făgăraş Mountains, on the Curmătura Oticu. The upper reach of the rivers, upstream of the confluence with the Boarcăşu River is also known as Izvorul Oticului River or Oticu River....

. It was erected during the late 1980s by the Communist regime over the terrain which used to be the Bucharest Hippodrome before World War II

World War II

World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...

, and was intended to serve as a museum of the Romanian Communist Party

Romanian Communist Party

The Romanian Communist Party was a communist political party in Romania. Successor to the Bolshevik wing of the Socialist Party of Romania, it gave ideological endorsement to communist revolution and the disestablishment of Greater Romania. The PCR was a minor and illegal grouping for much of the...

. The balcony (which no longer exists) of the unfinished building facing Ştirbei Vodă Street was used by the Romanian dictator Nicolae Ceaușescu

Nicolae Ceausescu

Nicolae Ceaușescu was a Romanian Communist politician. He was General Secretary of the Romanian Communist Party from 1965 to 1989, and as such was the country's second and last Communist leader...

 on 23 August 1989 to watch the festivities marking Romania's National Day. It was the last Communist-style parade in Romania.

The Romanian government contracted the construction of a hotel and a mall called "Dâmbovița Center" to the Turkish

Economy of Turkey

The economy of Turkey is defined as an emerging market economy by the IMF and is largely developed, making Turkey one of the world's newly industrialized countries. The country is among the world's leading producers of agricultural products; textiles; motor vehicles, ships and other transportation...

 company Cenk Vefa Kucuk. The project was supposed to be a $275 million investment and the largest multipurpose complex in the region. It was supposed to build a 300-room hotel, 69,000 m² of retail spaces, 16,000 m² of offices, 45,000 m² of commercial galleries and a residential complex, designed to include 200 apartments, a parking lot, restaurants and a hospital. The government, which provided the building, would get only 10% of the income.

The government canceled the contract in 2005 because of various irregularities regarding the auction, the company and the financing. The company said it would sue to recover the money already invested.

In the winter of 2006, a public-private partnership agreement between Elbit Medical Imaging, an Israeli

Economy of Israel

The economy of Israel is a technologically advanced market economy, including a rapidly-developing high-tech and service sectors. As of 2010, Israel has the 24th largest economy in the world, and ranks 15th among 169 world nations on the UN's Human Development Index, which places it in the category...

 company, and the Romanian government was announced to develop Casa Radio. The Romanian Government will remain a 15% partner in the scheme. Construction began in June 2007, after a decision to demolish 70% of the initial building, keeping only the facade

Facade

A facade or façade is generally one exterior side of a building, usually, but not always, the front. The word comes from the French language, literally meaning "frontage" or "face"....

and the structural framework.

The new project will consist of a mall of 100000 sqm, a five star hotel with 320 rooms, a residential area with 300 apartments and three office towers of 26, 30 and 34 floors with the last tower having 155 m (508.5 ft).