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It is a glacial lake situated at an altitude of 2,040 m, in Făgăraș Mountains. The lake’s dimensions are: 360 m long, an area of 46,508 m2 and a depth of 11.35 m. In 1932 Bâlea Lake and an area of approximately 180 ha around the lake were declared scientific reservation.

In 2006, near the lake, the first ice hotel of Eastern Europe was built, having the form of an igloo with 16 rooms.