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.
Abu Dhabi is pressing ahead with plans to cement its status as a global hub for culture, tourism and creativity, driving forward strategic projects that place the creative economy at the heart of its sustainable development and economic diversification agenda.
Britain has asked Cyprus to extradite a dual British-Azerbaijani national suspected of spying on a British air base on the Mediterranean island and passing his findings to Iran's Revolutionary Guards, London police said on Friday.
U.S. President Donald Trump said talks in Cairo between mediators and Hamas leaders on Thursday have led to a phased disarmament agreement in Gaza, but a Hamas official described the deal as a draft and U.S. officials said Israel was skeptical the militant Palestinian group would surrender its weapons.
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