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.
Dubai South, the region's largest urban master development focused on aviation, logistics and real estate, has officially inaugurated Dior's new Regional Distribution Centre for the Middle East at the EZDubai Logistics Hub.
An Iraqi court on Sunday opened the trial of six French nationals accused of belonging to Islamic State, with a member of the Supreme Judicial Council telling the court that the suspects could face the death penalty if convicted of crimes committed against Iraq and the Iraqi people.
For 24 hours, Israel will live in slow motion. Yom Kippur, the Day of Atonement and the holiest day of the Jewish calendar, begins Sunday evening.
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