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.
The Secretary-General of the Gulf Cooperation Council (GCC), Jasem Mohamed Albudaiwi, condemned Iranian attacks on civilian infrastructure in Bahrain, Jordan and Kuwait on Saturday, describing them as "war crimes."
Pakistan has been negotiating an expanded defence pact with Kuwait in exchange for energy cooperation and investment, according to five sources with knowledge of the talks.
Kuwait announced Friday that one of its power generation and water desalination plants had been struck by an Iranian attack, causing significant damage as fighting across the Middle East continued to escalate.
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