The capital of Spain, located in the heart of the peninsula and right in the center of the Castillian plain, Madrid is a cosmopolitan city, a business center, headquarters for the Government, Spanish Parliament and the home of the Spanish Royal Family, Madrid is characterized by intense cultural and artistic activity and a very lively nightlife. The commercial street known as the Gran Vía was built as an east-west avenue at the start of the century. In the 1950’s the north-south boulevard called Paseo de la Castellana was extended and modern buildings were erected, housing the major financial institutions. Remainings of the distant past are mainly the Baroque and neoclassical strcutures of the 17th and 18th centuries, such as the Plaza Mayor (Main Square) and the Palacio Real (Royal Palace).
