The Hungarian government is poised to sign an agreement with the United Arab Emirates for the construction of an ambitious real estate complex in the capital, raising concerns from the city's mayor.
Budapest, the capital of Hungary © Mena Today
The Hungarian government is poised to sign an agreement with the United Arab Emirates for the construction of an ambitious real estate complex in the capital, raising concerns from the city's mayor.
The project aims to revamp a nearly abandoned railway station and its surroundings at a cost of €5 billion.
According to a document released late Thursday on the Hungarian government's website, authorities will sell the land, located not far from the city center, to a private entity selected by the UAE "without conducting a tender."
In return for this "major investment," Hungary commits to carrying out infrastructure work "amounting to at least €800 million."
The nationalist Prime Minister Viktor Orban continues his controversial endeavor of large-scale projects that alter the city's landscape, including its UNESCO-listed historic center.
In December, Construction Minister Janos Lazar defended the project, referring to it as "maxi-Dubai" in response to media headlines that called it "mini-Dubai."
He insisted that the result would not be mediocre and that it would be an "internationally acclaimed" project.
A video sting produced by an Israeli private intelligence firm that said it exposed corruption in Cyprus may have been part of a hybrid attack targeting the Cypriot state, and none of those filmed did anything wrong, an independent investigator said on Monday.
Hamas announced Monday that Khalil al-Hayya has been elected as the new leader of the Palestinian Islamist movement, succeeding Yahya Sinwar following months of collective leadership after his death.
Yemen's Iran-aligned Houthis on Monday declared a naval blockade against Saudi Arabia effective immediately, their military spokesperson said in a televised speech.
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