Válasz Online: Is Orbán’s son-in-law on the brink of securing a big business?

Orbán’s son-in-law, István Tiborcz, has gained from state-backed deals, sparking concerns of cronyism. His ventures, including real estate, receive government support and inflated buyouts, highlighting a pattern of state capitalism favouring politically connected figures.

Big plans before 2026?

Válasz Online suggests that Orbán’s son-in-law, István Tiborcz, is set to benefit from another lucrative state-backed deal as his company, Waberer’s Group, develops a logistics base in Ecser, scheduled to be purchased by Magyar Posta in 2026. This reflects a recurring pattern of government support for Tiborcz, where state institutions acquire assets from his business ventures, often at inflated prices. The government has also discreetly invested billions in properties and solar plants linked to Tiborcz’s circle, raising further concerns of favouritism. This strategy of state capitalism shields politically connected figures like Tiborcz from market risks, enabling them to profit significantly through state aid, favourable loans, and strategic acquisitions, casting doubt on the transparency of Hungary’s economic policies.

Major real estate projects

The development of major real estate projects tied to Orbán’s son-in-law, István Tiborcz, reveals a pattern of state-backed financial support and preferential treatment. The Dürer Park project, managed by Tiborcz’s private equity fund, was declared a priority investment by the Orbán government in 2021, exempting it from local regulations and fast-tracking its approval. Similar support was given to other developments, such as those at Bosnyák Square and BudaPart, where state-owned banks provided substantial loans. By 2022-23, the government discreetly purchased significant portions of these projects at inflated prices, likely costing over HUF 600 billion (EUR 1.50 billion), ensuring substantial profits for those involved.

Magyar Posta logistic centre

Orbán’s son-in-law, István Tiborcz, through his majority-controlled Waberer’s Group, recently completed a major logistics centre in Ecser, near Budapest, marking the company’s largest greenfield investment to date. The 13.5-hectare site, acquired from billionaire Dániel Jellinek, benefited from significant state support. The Hungarian government has also classified the project as of national economic importance. In a move that further solidifies Tiborcz’s position, Magyar Posta will purchase the centre from Waberer’s after its completion in early 2026, positioning this deal as one of the key business ventures of the current parliamentary term.

Photo: facebook.com/MagyarPosta

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Janos

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says:

21/10/2024 at 10:19

So? Yes Orban and clan are corrupt. Is there news to report?
Géza Hegedűs

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says:

22/10/2024 at 14:03

I pray for the day these traitors and criminals will be brought to justice. Stripped from all their stolen wealth, power positions and life in prison for all key figures of this gang disguised as political party members and so-called businessmen.