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 United Arab Emirates on Thursday approved a resolution setting the minimum age for social media use at 15, the government's media office said, making it the first Arab country to introduce such a measure.
Iran's interim deal with the U.S. looks set to bolster Hezbollah's political and financial hand in Lebanon, with Tehran promising more funding for its ally once cash starts to flow, according to four sources familiar with ties between Tehran and the group.
U.S. President Donald Trump on Tuesday issued a rare public rebuke of Israel's military tactics in Lebanon targeting Hezbollah militants, saying it was unnecessary to bomb entire apartment buildings to hunt militants.
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