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 Nations aviation agency has found Lebanon's main airport lacks valid certification, according to a report summary seen by Reuters, in a setback to US President Donald Trump's move to revive direct US-Beirut flights.
Iraq has lost about $60 billion since the war in the Middle East began, its foreign minister said on Friday, as the blockade of the Strait of Hormuz cut deeply into the country's oil exports.
A majority of Israelis would prefer a unity government to a repeat election if the October 27 vote fails to produce a clear winner, according to a poll for the daily Maariv. The same poll puts the governing and opposition blocs level, and neither is close to a majority.
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