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.
Turkish President Tayyip Erdogan said it was unrealistic to expect all countries to make the same progress on climate policy while inequalities in access to financing and technology persisted, adding he expected support from all nations for Turkey's COP31 Climate Summit action agenda.
Turkey and Iraq agreed on Wednesday for Turkish forces to hand over a military camp in northern Iraq to the Iraqi government gradually, they said after talks in New York, adding they also agreed to end the presence of "outlawed armed elements" in northern Iraq.
"Last year, I said that Syria had returned. Today, I say that Syria is rising," Syrian President Ahmed al-Sharaa told the UN General Assembly on Wednesday, one year after becoming the first Syrian leader in nearly six decades to address the body.
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